Just Eat Takeaway.com NV (LSE:JET, NASDAQ:GRUB) has opted to end the listing of its American depositary receipts (ADRs) on the NASDAQ exchange.
The online food delivery group expects the delisting to happen before the end of this quarter. The company expects the ADRs to be tradeable in the US on over-the-counter markets.
The company's main considerations for the voluntarily delisting are the low trading volumes of the company's ADRs on NASDAQ and the low proportion of the company's total share capital held via ADRs on Nasdaq (about 3.7%, which is expected to decrease further over time).
The company's ordinary shares will remain listed on Euronext Amsterdam and on the London Stock Exchange although the review of the optimal listing venues is ongoing.