Menu visibility control

Video

Events

Startup Surgery

Most Recent

Government & Policy

UK govt reportedly planning to ban encryption following Manchester attack

Investments

PropTech startup SPCE raises £280,210 on crowdfunding platform Seedrs

Investments

RegTech startup Regnosys gets $900,000

Press Releases

Zzish hits £1.15m funding target on Crowdcube for technology that will democratise quality education and move the needle on learning
Okappy announces the launch of its investment pitch on the AngelsDen equity crowdfunding platform
Recruitment disruptor talent.io poised for further growth with €8m investment secured

JUST EAT shares soar on first day of trading

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.

A $40m funding round, Snapchat’s poor results, Deliveroo’s first acquisition and more in The Week in Tech

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 email address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

Amber Rudd

UK govt reportedly planning to ban encryption following Manchester attack
posted 18 hours ago

SPCE

PropTech startup SPCE raises £280,210 on crowdfunding platform Seedrs
posted 19 hours ago

regulation

RegTech startup Regnosys gets $900,000
posted 21 hours ago

Theresa May

The Conservative manifesto: What does it mean for UK tech?
posted 21 hours ago

Quiqup team photo

On-demand delivery firm Quiqup gets £20m as it gears up for global expansion
posted on May 24, 2017

David Brown, VE

Ex-CEO of Ve Interactive under investigation for fraud
posted on May 23, 2017