Just Eat Takeaway.com NV (LSE:JET, NASDAQ:GRUB) has become the latest high-profile company to bow out of the London Stock Exchange after filing its intention to delist its shares.
The Denmark-founded company said the decision is being made “in order to reduce the administrative burden, complexity and costs associated with the disclosure and regulatory requirements of maintaining the LSE listing”.
It follows a review of Just Eat’s global listing profile, which led to Just Eat removing its shares from the US Nasdaq exchange in 2022.
The news reflects the current atmosphere in the London capital markets, which have seen a steady exodus of small, medium and large-cap exits since 2022.
Just Eat downgraded its London listing from the Premium segment of the LSE to the standard segment in December 2020 in a move that precluded the company from the FTSE indexes.
Just Eat has bled market value since the record highs of the pandemic era, when the stock multiplied in value after becoming a fixture of stay-at-home living.
Since October 2020, Just Eat shares have fallen nearly 90% in value.
The company said it will maintain its primary listing on the Euronext Amsterdam.