• Text size      
  • Send this article to a friend
  • Print this article

Just Eat reveals appetite for flotation

Online takeaway food service Just Eat has announced plans to float on the London stock market next month.

The company, founded in Denmark in 2001, aims to raise £100 million, in a move that is reportedly expected to value it at between £700 million and £900 million.

It will become the latest business to make its stock market debut, after launches from Poundland, Pets at Home, online white goods retailer AO and fashion website boohoo.com.

Chief executive David Buttress said: "I'm very pleased to be bringing Just Eat to market following several years of strong growth and expansion.

"Just Eat brings together tens of thousands of local takeaway restaurants globally and processes millions of online orders monthly, which I believe makes us one of the most exciting global growth companies in Europe."

It is reported that the float will net a windfall for Mr Buttress, 38, a former Coca-Cola executive who helped launch Just Eat's UK business after joining in 2006 - as well as for the group's founder Klaus Nyengaard.

The company said the offer would give management, staff, ex-employees and early backers the chance to partly cash in on their investments.

The firm has not yet decided whether to apply for the official list of the London stock exchange, where it must float 25% of its shares, or the "high growth" segment where it can make just 10% available.

Just Eat operates in 13 countries including Denmark, France, Canada, Ireland and Spain. Its network covers more than 36,000 takeaway restaurants.

Contextual targeting label: 
Business

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

220050