Just Eat investors take smaller portion in £445m fundraising
ONLINE takeaway service Just Eat was left feeling hungry yesterday after completing its placing with only 40 per cent of shares taken up by existing investors.
The company said its main shareholders, which together hold 42.97 per cent, chose not to take up their entitlement under the open offer. However, it added that it was “delighted” to have raised £445m, which it will use to fund the acquisition of Australia and New Zealand-based online takeaway business Menulog.
The placing came just a day after Just Eat announced it has bought two smaller rivals in Italy, including Cliccaemangia.it, based in Milan, and Delivexex.it in Rome.
Just Eat, which floated last year, upped its stake in French business Alloresto.fr last year and created a joint venture with Brazil’s iFood.