Just Eat set for £100m float on London Stock Exchange

Tikka masala Image copyright PA
Image caption Just Eat lets people order from local restaurants

Online takeaway service Just Eat aims to raise £100m from listing its shares on the London Stock Exchange.

The firm, which makes money from commissions charged to restaurants on the value of orders placed through its platform, said it would use the cash raised to boost growth.

It plans potential expansion into new countries, as well as acquisitions of complementary businesses.

It currently operates in 13 countries, with the UK one of its largest markets.

Venture capital firm backers SM Trust, Index Ventures, Vitruvian Partners, Redpoint Ventures and Greylock Partners are all expected to sell a proportion of their shareholding in the offer.

"The listing of Just Eat on the London Stock Exchange marks the next stage of our growth and development," said the company's chief executive, David Buttress.

Just Eat said that in 2013, orders placed through its website and mobile apps were up 59% compared with 2012.

Total revenues for the year were £96.8m, representing growth of 61.9%.

It said its average revenue per order was now £2.11, up 5.5% on 2012.

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