Just-Eat prices shares at top end of range in IPO

Harriet Green
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Just-Eat has announced it’s pricing its London Initial Public Offering at the top end of its range, at 260p per share.

The London-based online food takeaway business is offering 138.5m shares.

Based on the offer price, it’d reach a market capitalisation of £1.47bn.

The shares being sold represent 24.6 per cent of Just-Eat’s equity.

It’ll get £100m pounds of gross proceeds from the offers, with a portion of the rest going to backers, including SM Trust, Index Ventures and Vitruvian Partners.

Conditional dealings have begun this morning, under the ticker JE.

Last year, 40,171,000 orders were made on Just-Eat’s sites, generating an average of £2.11 each in commission.

The firm also owns 18,000 web addresses, giving it plenty of space to expand worldwide.