Just Eat share price falls as it raises £445m

Emma Haslett
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The company said in May it wanted to raise £445m to finance its acquisition of Menulog Group (Source: Getty)

Shares in Just Eat, the takeaway site which listed last April, fell 1.9 per cent to 416p this morning after it announced it had raised £445m through a placing and open offer.

The company - listed in the UK but founded in Denmark - announced in May that it was planning to raise cash to finance its acquisition of Menulog Group, its equivalent in Australia.

In a statement today it said current shareholders had bought 43m shares, about 41 per cent of those on offer. In an open offer not available to the company's major shareholders, another 61m shares were taken up. A spokesman for the company confirmed it had raised the full £445m it had sought. Shares in the company have fallen in recent weeks, from a high of 496p in May. However, share price remains well above the 260p it floated at.

In January the company announced orders had surged by 52 per cent, sending shares up 3.9 per cent.

--- UPDATE: This article has been amended to show Just Eat raised the full amount it sought.

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