• First company to list on London Stock Exchange's High Growth Segment
• IPO raises £360 million, valuing JUST EAT at £1.47 billion
• David Buttress, JUST EAT CEO opens London trading
London Stock Exchange today welcomes JUST EAT, the first company to be admitted to London Stock Exchange's High Growth Segment. The company, which operates the world's largest online marketplace for restaurant delivery, raised £360 million at IPO giving it a market value of £1.47 billion, making it the largest internet company to float on London Stock Exchange this year. To mark the occasion, David Buttress, JUST EAT's CEO, opened London trading this morning.
There have been seven technology IPOs on London Stock Exchange this year, raising £1.3 billion; 30 per cent more than the 2013 total.
Alexander Justham, CEO of London Stock Exchange said:
"Ensuring that the UK's fastest growing and most dynamic companies have access to equity capital is a priority for London Stock Exchange. We're delighted to welcome JUST EAT to open trading for us this morning. Its successful IPO helps confirm that the High Growth Segment provides further flexibility to fast growing British technology companies to use the London markets as a launch pad for further success."
David Buttress, CEO of JUST EAT said:
"Today is a time for celebration for everyone at JUST EAT. It marks the beginning of our life as a public company, and the opportunities that this brings. Our compelling growth story and market-leading positions have attracted strong investor support for the IPO and I am confident and incredibly excited about our future as we start the next stage of our development as a public company."
Commenting on the listing, Kit Malthouse, the Deputy Mayor of London for Business and Enterprise, said:
"I am delighted that JUST EAT is the first company to list on the High Growth Segment. This shows not only that exciting businesses like JUST EAT can find a route to stock markets through London, but also that this city's thriving tech sector continues to nurture new success stories. I have every confidence that JUST EAT will be the first in a line of many tech companies finding success through a stock listing in London."
Launched last year, the High Growth Segment was designed by London Stock Exchange to meet the needs of fast-growing companies aspiring to be included in the Premium segment of the UKLA's Official List. The segment provides greater choice for companies seeking development capital and investors seeking growth opportunities.
Companies are eligible for admission to the High Growth Segment if they meet the following criteria:
• Historic revenue CAGR of 20 per cent or more over a three year period
• An EEA incorporated, active commercial company
• A minimum free float of 10 per cent
• Publication of an approved prospectus