(Bloomberg) -- Just Eat Takeaway.com NV plans to delist from London this year owing to the low liquidity of its shares, shifting to just an Amsterdam listing even as the UK attempts to woo companies to its capital markets.
The Amsterdam-headquartered meal delivery firm intends to cancel its secondary listing from the London Stock Exchange to reduce the associated “administrative burden, complexity and costs,” the company said in a statement on Wednesday. The move will take effect on Dec. 27 and Just Eat will maintain its primary listing on Euronext Amsterdam.
“The majority of our trading volumes happen” in Amsterdam, a Just Eat spokesperson said by email.
The firm began a review of its listings across Amsterdam, London and New York in 2021 after it acquired US-based Grubhub. The following year, it decided to delist its American Depositary Receipts from Nasdaq, citing cost savings and reduction in compliance requirements.
Just Eat’s decision puts London’s appeal back into the spotlight after a number of companies chose to list in New York over the British capital, including UK-headquartered Arm Holdings Plc last year, in an effort to reach a wider pool of investors. The city is facing calls to do more in terms of corporate governance requirements and regulations to draw initial public offerings.
Just Eat agreed to sell its US unit Grubhub to Wonder Group Inc. this month for about $650 million, offloading it at a steep discount to the $7.3 billion it paid. The company has been working to reinvigorate pandemic-era order growth through partnerships and loyalty programs, while expanding into categories such as pharmacy and sexual wellness.
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