Menu visibility control

Video

Events

Startup Surgery

Most Recent

Investments

Loyalty card app Bink closes £2m Seed

Investments

Marvel raises £4m Series A round led by BGF Ventures

News

SoftBank’s allocation of half its $100bn investment fund spells bad news for UK tech

Press Releases

ArcaPay – New name in the international B2B payments space
Global FinTech PR Network launched
TestPlant appoints experienced EMEA sales leader

JUST EAT shares soar on first day of trading

JUST EAT
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

JUST EAT saw their share price briefly rise over 10% on their opening day of trading.

The IPO listed the shares at 260p, giving the company a value of £1.47bn.

Shares peaked just below £3 at 297.96p before finishing the day up 8.85% at 283p.

Startup Weekly: Indiegogo’s equity crowdfunding service, Just Eat FoodTech cohort & more

It left JUST EAT finishing their first day of trading valued £1.59bn, over one hundred times their underlying earnings of £14.1m.

JUST EAT will receive £100m million from the flotation, with the rest going to their investors.

David ButtressDavid Buttress, chief executive of JUST EAT said:

I believe that investors have recognised our track record of strong growth and that we have a strong platform for future growth.

New IPO territory

JUST EAT were the first firm to float on the London Stock Exchange’s hotly anticipated High Growth segment.

This allows companies to issue as little as 10% of the shares when they float, instead of the normal minimum quantity of 25%.

The takeaway company expects a free float of 24.6%. As a result, it is unlikely that they will stay on the High Growth Segment for long.

Their successful IPO will offer encouragement to other companies considering floating on the new segment of the London market.

 

Enter your e-mail address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

shopping

Loyalty card app Bink closes £2m Seed
posted 3 hours ago

Marvel

Marvel raises £4m Series A round led by BGF Ventures
posted 3 hours ago

Donald Trump

SoftBank’s allocation of half its $100bn investment fund spells bad news for UK tech
posted 12 hours ago

partnership

Blockchain startup Setl scores funding from Deloitte
posted 15 hours ago

investing

November funding roundup: UK tech investment falls 54%
posted 16 hours ago

agreement

Host Europe Group to be acquired by GoDaddy in €1.69bn deal
posted on December 6, 2016