Just Eat, the online food ordering and delivery service, is preparing to go public in London, according to the Financial Times.
According to the report, the IPO will look to raise up to £100 million (around $166 million), which would value the company at between £700 million and £900 million. A spokesperson for the company confirmed the deal to TNW, and added that the move is designed to facilitate an expansion of services to formalize its collection service – a shift that would allow considerably more restaurants to be listed on the service. Currently, collection orders are supported, but only for restaurants that also offer delivery at other times.
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According to the ITF (Intention to Float) documentation, the sale will be listed on either the London Stock Exchange or the ‘High Growth Segment’ of the main market – which is designed specifically to entice tech startups. The service is the second in less than a month to go public – US-based GrubHub filed for a $100 million IPO at the end of February.
➤ Just Eat joins growing queue of London IPOs [Financial Times]