Meal delivery firm Just Eat Takeaway on Tuesday 8 February said that it will delist its shares from the Nasdaq stock exchange in a bid to limit costs and regulatory burdens.
Amsterdam And London Stock Exchanges
Shares of the Amsterdam-based company remain listed on the Amsterdam and London stock exchanges.
Just Eat Takeaway Statement
"Main considerations for the voluntarily delisting are the low trading volumes on Nasdaq and the low proportion of the company’s total share capital held on Nasdaq", Just Eat Takeaway said.
Grubhub Purchase
Takeaway made a big move on the American market in June last year, as it bought US delivery firm Grubhub for $7.3 billion.
Under Pressure
But it has come under pressure from investors in recent months to sell operations, including Grubhub, to reduce its operating losses as the boost it received from increased orders during the COVID-19 pandemic has begun to fade.
Share Values
Takeaway shares were down 2% in early trading in Amsterdam on Tuesday 8 February, the second-worst performer in the blue chip AEX-index.
At €41.26, the shares have lost 15% of their value so far in 2022 and are far below their all-time high above €109 hit in October of 2020.
News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.
