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Just Eat shares rise after £1.5bn valuation

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This gave the company a valuation of more than 100 times its last year EBITDA and 15 times the value of sales.

At time of writing Just Eat’s share price had peaked at approximately 286 pence.

Just Eat chief David Buttress said: “I believe that Just Eat is one of the most exciting global growth companies in Europe and we are all delighted at the strong levels of investor interest we have seen in our initial public offering.

“I believe that investors have recognised our track record of strong growth and that we have a strong platform for future growth. We look forward to life as a listed company as we join the market through the LSE’s High Growth Segment and continue expanding our leading online platform for takeaway food.”

The float will raise £100m for the company and up to £287m for the shareholders which include SM Trust, Index Ventures, Vitruvian Partners, Redpoint Ventures and Greylock Partners, as well as Just Eat’s senior management and early investors.

The company’s shares are currently in conditional dealing and it is expected to join the High Growth Segment of the LSE Main Market on April 8th.

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