In a significant move that underscores the changing landscape of global financial markets, Just Eat Takeaway has announced its departure from the London Stock Exchange (LSE), opting to maintain its sole listing in Amsterdam where the company’s headquarters resides.
The food delivery giant’s decision, driven by mounting administrative burdens and regulatory complexities, marks a concerning development for London’s status as a premier financial hub. The delisting, scheduled to take effect from 8am on 27 December, follows the company’s last trading day on 24 December.
The move comes as Just Eat grapples with post-pandemic challenges, including declining online food orders and fierce competition in the delivery sector. The company recently divested its US division, Grubhub, at a substantial loss, merely four years after acquiring the platform during the initial Covid-19 lockdowns.
Market analysts have noted the timing of this strategic shift, which mirrors the company’s previous departure from the Nasdaq exchange in 2022. Both decisions were attributed to similar factors: complexity reduction and cost optimisation.
Despite the LSE exit, Just Eat maintains its commitment to the UK market, where its delivery network reaches 97% of the population. The company has advised London-based shareholders to consult their investment advisers regarding the conversion of their holdings to Amsterdam-traded shares.
This departure adds to mounting concerns about London’s diminishing appeal as a listing destination, following recent high-profile decisions such as Klarna’s choice to pursue its IPO in the US. A recent survey of FTSE 350 companies reveals that 53% of business leaders anticipate continued net delistings from the LSE over the next five years, painting a challenging picture for the UK’s financial centre.
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