Simply Eat has revealed plans to desert its London inventory market itemizing by the tip of the 12 months, dealing a recent blow to the Metropolis.
The Netherlands-based meals supply agency mentioned the choice would permit it to chop prices and complexity.
It could preserve a single itemizing in its house market, Simply Eat’s assertion mentioned, on Amsterdam’s Euronext alternate.
The corporate mentioned low liquidity and buying and selling volumes of its shares in London additionally fashioned a part of its resolution.
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Simply Eat, which revealed earlier this month that it had bought its US enterprise Grubhub for a big loss, anticipated the de-listing to take impact on 27 December.
It added: “The UK continues to be a key market for us, home to many of our talented colleagues and our ever-expanding range of grocery and restaurant partnerships.”
It could observe different huge firms, together with journey big TUI and Flutter Leisure, to have additionally left the London inventory alternate in current occasions.
The final Conservative authorities, and the present Labour administration, have tried to arrest the post-Brexit difficulties the Metropolis has confronted by easing obstacles to flotations.
However these efforts have been challenged by years of weak demand for brand new listings because of many challenges inside the international economic system.
Susannah Streeter, head of cash and markets at Hargreaves Lansdown, mentioned Simply Eat’s resolution was undoubtedly a setback.
“Just Eat cited a litany of reasons for withdrawing from the London Stock Exchange, showing just how much work still needs to be done to simplify rules to help retention and lure more firms in”, she wrote.
