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Just Eat to delist shares from Nasdaq
8th Feb 2022 08:36
(Sharecast News) - Food delivery platform operator Just Eat Takeaway revealed on Tuesday that it will delist its shares from the Nasdaq as part of an effort to cut both costs and regulatory burdens.
Just Eat, which will remain listed on the Amsterdam and London stock exchanges, stated the main drivers of its decision were low trading volumes on the Nasdaq and the low proportion of its total share capital held on the index.
The Dutch firm bought US delivery firm Grubhub back in June 2021 for $7.3bn but has recently come under pressure to dispose of operations in order to reduce operating losses as the increased order levels amid the peak of the Covid-19 pandemic began to normalise.
As of 0945 GMT, Just Eat shares were down 3.70% at 3,420.0p.
Just Eat, which will remain listed on the Amsterdam and London stock exchanges, stated the main drivers of its decision were low trading volumes on the Nasdaq and the low proportion of its total share capital held on the index.
The Dutch firm bought US delivery firm Grubhub back in June 2021 for $7.3bn but has recently come under pressure to dispose of operations in order to reduce operating losses as the increased order levels amid the peak of the Covid-19 pandemic began to normalise.
As of 0945 GMT, Just Eat shares were down 3.70% at 3,420.0p.