Just Eat has revealed plans to abandon its London stock market listing by the end of the year, dealing a fresh blow to the City.
The Netherlands-based food delivery firm said the decision would allow it to cut costs and complexity.
It would maintain a single listing in its home market, Just Eat’s statement said, on Amsterdam’s Euronext exchange.
The company said low liquidity and trading volumes of its shares in London also formed part of its decision.
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Just Eat, which revealed earlier this month that it had sold its US business Grubhub for a significant loss, expected the de-listing to take effect on 27 December.
It added: “The UK continues to be a key market for us, home to many of our talented colleagues and our ever-expanding range of grocery and restaurant partnerships.”
It would follow other big companies, including travel giant TUI and Flutter Entertainment, to have also left the London stock exchange in recent times.
The last Conservative government, and the current Labour administration, have tried to arrest the post-Brexit difficulties the City has faced by easing barriers to flotations.
But these efforts have been challenged by years of weak demand for new listings due to many challenges within the global economy.
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Sky News revealed earlier this week that Chancellor Rachel Reeves was due to meet the bosses of some of Britain’s fastest-growing companies to assure them of government support to help grow London listings.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said Just Eat’s decision was undoubtedly a setback.
“Just Eat cited a litany of reasons for withdrawing from the London Stock Exchange, showing just how much work still needs to be done to simplify rules to help retention and lure more firms in”, she wrote.
