Just Eat Takeaway has announced that it will be delisted from the London Stock Exchange due to the “low liquidity and trading volume” of its shares on the stock exchange.
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Just Eat Takeaway will be delisted from the London Stock Exchange next month, dealing a blow to Britain’s ambitions to attract more high-growth technology companies to the stock market.
Having completed a review of the optimal listing location, the Anglo-Dutch food delivery company on Wednesday intends to delist from the London Stock Exchange and make Amsterdam its sole trading venue for Just Eat Takeaway.com. announced.
Explaining its decision, Just Eat Takeaway said: “Against a background of low liquidity and low liquidity, we are seeking to reduce the administrative burden, complexity and costs associated with the disclosure and regulatory requirements to remain listed on the LSE. The company stated that it would delist its own shares from the LSE in order to reduce the Trading volume. ”
The company has asked the LSE and the UK market watchdog Financial Conduct Authority to delist it so it can remain listed primarily on the Amsterdam exchange.
The delisting will take effect from 8am London time on December 27, with December 24 being the last day for Just Eat Takeaway shares to trade on the LSE.
Earlier this month, Just Eat Takeaway.com announced it would sell its Grubhub division to New York-based online takeout startup Wonder for $650 million, a move that marks the end of the company’s U.S. food chain. That’s a huge discount compared to the $7.3 billion paid for the delivery app.
