Just Eat Takeaway Shares (JET) Dip as London Delisting Moves Closer

Shares of Just Eat Takeaway (LON: JET) witnessed a downturn on Tuesday as the company announced plans to delist from the London Stock Exchange. The JET price has trimmed 1.12% through the morning's trading, but continues to remain green YTD after the last month brought significant bullish momentum, with shares gaining 30.93%.

Just Eat Takeaway.com, a leading global online food delivery group, has made a strategic decision to streamline its operations and address concerns related to administration and costs by withdrawing from the London Stock Exchange. This move is prompted primarily by “low liquidity and trading volumes” on the LSE, which the company identified as a significant reason behind its decision.

After the delisting, Just Eat Takeaway.com will maintain its primary listing on Euronext Amsterdam (EPA:ENX), assuring investors of its continued presence in prominent European financial markets. The transition process for the delisting is anticipated to be finalized by December 27, with the cessation of trading on the LSE taking place after December 24.

Shareholders currently invested in the company through the LSE are encouraged to seek advice on how they might convert their holdings, as the delisting will not affect shareholders on Euronext Amsterdam. Throughout this period of change, Just Eat Takeaway.com ensures the availability of the Corporate Sponsored Nominee service to assist CDI holders.

The decision to scrutinize its listings came to light in 2022 as Just Eat Takeaway.com explored various avenues to enhance cost-efficiency and simplify operations within the company. In accordance with the prevailing UK listing rules, the action to delist did not require any approval from shareholders.

Just Eat Takeaway.com continues to navigate an increasingly competitive and dynamic post-pandemic food delivery industry, where consumer demand is evolving, and competitive pressures remain high. The company's adaptation to these market conditions is critical for its ongoing success and positioning in the global marketplace.