Simply Eat Takeaway mentioned it was delisting its shares from the London Inventory Change because of the “low liquidity and buying and selling volumes” of its shares on the alternate.
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Simply Eat Takeaway will delist from the London Inventory Change subsequent month, in a blow to the U.Okay.’s ambitions to draw extra high-growth tech companies to its inventory market.
After finishing a overview of optimum itemizing venues, the Anglo-Dutch meals supply agency mentioned Wednesday that it intends to delist from London’s inventory alternate, making Amsterdam Simply Eat Takeaway.com’s sole buying and selling venue.
Explaining its determination, Simply Eat Takeaway mentioned it was delisting its shares from the LSE in a bid to “cut back the executive burden, complexity and prices related to the disclosure and regulatory necessities of sustaining the LSE itemizing, and within the context of low liquidity and buying and selling volumes.”
It has requested that the LSE and the Monetary Conduct Authority, the U.Okay.’s markets watchdog, cancel its itemizing, in order that it might probably stay primarily listed on the Amsterdam alternate.
The delisting will turn out to be efficient from 8 a.m London time on Dec. 27, whereas Dec. 24 will mark the final date of buying and selling of Simply Eat Takeaway’s shares on the LSE.
Earlier this month, Simply Eat Takeaway.com mentioned it could promote its GrubHub arm to New York-based on-line takeout startup Surprise for $650 million — an enormous low cost in comparison with the $7.3 billion the agency paid for the U.S. meals supply app.
