Just Eat Takeaway said it would be delisted from the London Stock Exchange due to “low liquidity and trading volumes” of its shares there.
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Just Eat Takeaway is to be delisted from the London Stock Exchange next month, dealing a blow to Britain’s ambitions to attract more high-growth tech companies to its stock market.
The Anglo-Dutch food delivery company said on Wednesday it intends to delist from the London Stock Exchange after completing a review of the best place to list, leaving Amsterdam-based Just Eat Takeaway.com as its sole trading venue.
Just Eat Takeaway said in explaining its decision that its shares would be delisted from the London Stock Exchange to “reduce the administrative burden, complexity and costs associated with maintaining the disclosure and regulatory requirements of a London Stock Exchange listing, as well as to reduce liquidity low and trading volume”.
It has asked the London Stock Exchange and Britain’s markets regulator the Financial Conduct Authority to cancel its listing so that it can remain primarily listed on the Amsterdam exchange.
The delisting will take effect from 8am London time on December 27, and December 24 will be the last day of trading for Just Eat Takeaway shares on the London Stock Exchange.
Earlier this month, Just Eat Takeaway.com said it would sell its GrubHub unit to New York-based online food delivery startup Wonder for $650 million, matching the $73 it paid for the U.S. food delivery app. Compared to billions of dollars, that’s a huge discount.
