Takeaway group Just Eat adds 8.9% on its trading debut in London

Just Eat rose 8.9 per cent on its trading debut in London today, more than a decade after five Danes started the online takeaway service, connecting diners directly to restaurants via the internet.

The stock climbed 23 pence to 283 pence giving the company a market value of £1.6 billion.

Just Eat was started in Denmark in 2001 and branched out to hungry Brits in 2006. The company now operates on four continents and has more than 36,000 global restaurant partners and almost six million active users, according to its website.

The initial public offering is expected to raise £360.1 million, assuming no over-allotment option is exercised, with the company receiving £100 million, Just Eat said.

The share sale represents 24.6 per cent of the company’s ordinary shares. – (Bloomberg)