Ap­petite for take­away makes Just Eat FTSE 100 can­di­date

The Star Malaysia - StarBiz - - Digital Trend -

LON­DON: The UK’s pen­chant for take­away food may pro­pel restau­rant de­liv­ery firm Just Eat Plc into the bench­mark FTSE 100 stock in­dex af­ter surg­ing more than three­fold since its April 2014 ini­tial pub­lic of­fer­ing.

Just Eat’s mar­ket cap­i­tal­i­sa­tion of about £5.6bil may qual­ify the stock to en­ter the FTSE 100 In­dex next month, the Lon­don Stock Ex­change Group said on Mon­day.

The Lon­don-based com­pany has leapfrogged su­per­mar­ket chains J Sains­bury Plc and Wm Mor­ri­son Su­per­mar­kets Plc along the way.

Its me­te­oric rise has come de­spite stiff com­pe­ti­tion from much larger ri­vals such as Ama­zon.com Inc and Uber Tech­nolo­gies Inc, the loss of two top ex­ec­u­tives within months and the reg­u­la­tory rigour that comes with an up­start shak­ing up tra­di­tional mar­kets.

Not to men­tion the con­fi­dence-erod­ing po­lit­i­cal back­drop of Brexit.

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