Just-Eat set to become a public company
Fast food site Just-Eat has confirmed its intention to float in London and hopes to raise as much as £100m from its primary offering.
SM Trust, Index Ventures, Vitruvian Partners, Redpoint Ventures and Greylock Partners are expected to sell some their shareholding in the offer.
Just-Eat, which was founded in Denmark in 2001 and operates in 13 countries around the world, appointed chief executive David Buttress last May. The company is chaired by John Hughes, a former executive of Thales Group.
In 2013, the company generated £96.8m in revenues, an increase of 61 per cent from 2012.
Just-Eat has been working with banking advisers from Goldman Sachs and JP Morgan on its plans to list, a sign of US banks’ increasing prominence on equity capital market transactions in the UK and Europe.
David Buttress, Just-Eat's CEO, said:
Just Eat brings together tens of thousands of local takeaway restaurants globally and processes millions of online orders monthly, which I believe makes us one of the most exciting global growth companies in Europe,
The company estimated that delivery takeaway food market was worth £58bn in 2013.