Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Just Eat Said to Price IPO at Top End for Value of $2.4 Billion

April 1 (Bloomberg) -- Just Eat Plc, an online retailer, plans to price its London initial public offering at the top end of an offered range on strong investor demand, according to two people with knowledge of the matter.

Investors who bid below the top end of a price range of 210 to 260 pence may not get shares, the people said, asking not to be named as the details aren’t public. At a price of 260 pence, Just Eat may have a market capitalization of as much as 1.47 billion pounds ($2.4 billion) on listing, according to terms of the sale seen by Bloomberg News. Trading is due to start on April 3.

Retailers including AO World Plc and Poundland Group Plc went public last quarter as investors bet on the sector amid a U.K. economic recovery. Boohoo.com Plc, an online fashion retailer, rose 40 percent on its first day of trading in March and is now valued at 615 million pounds. IPO volumes in London this year more than doubled from the same period in 2013 to about $8 billion, according to data compiled by Bloomberg.

Just Eat’s sale, which is scheduled to close tomorrow, may raise as much as 300 million pounds, terms showed. The company is selling new shares to raise 100 million pounds.

Just Eat had had revenue of 96.8 million pounds in 2013 and earnings before interest, taxes, depreciation and amortization of 14 million pounds, an increase of 61.9 percent and 518 percent respectively, compared with 2012. The retailer operates in 13 countries and the U.K. is its largest market.

To contact the reporter on this story: Ruth David in London at rdavid9@bloomberg.net

To contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net Robert Valpuesta, Mark Beech

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.