Just Eat plans £100m London Stock Exchange floatation

18/03/2014

Just Eat plans to raise £100m from listing its shares on the London Stock Exchange, as the online takeaway service looks to expand its platform to more markets.

The Danish firm plans to use the extra cash to expand into new countries, as well as acquisitions of complementary businesses.

Just Eat makes money from commissions charged to restaurants on the value of orders placed through its platform. It currently operates in 13 countries, with the UK one of its largest markets.

Just-Eat said "since the first JUST EAT website was launched in 2001, the company has grown significantly, expanding to a total of 13 markets and delivering high levels of revenue and underlying Ebitda growth, mainly organic but also via selected acquisitions."

"Proceeds from the primary offering of £100 million will be used to support the growth of the group, with benefits including potential expansion into one or more additional territories and acquisitions of complementary businesses and technologies," the company said.

Just Eat said that in 2013, orders placed through its website and mobile apps were up 59% compared with 2012.

Total revenues for the year were £96.8m, representing growth of 61.9%. It said its average revenue per order was now £2.11, up 5.5% on 2012.

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