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Takeaway service Just-Eat prices shares at 260 pence in IPO
April 3, 2014 / 6:27 AM / 4 years ago

Takeaway service Just-Eat prices shares at 260 pence in IPO

LONDON, April 3 (Reuters) - Online takeaway service Just-Eat Group IPO-JEC.L said it had priced its shares in an initial public offering at 260 pence each, giving the group a valuation of 1.47 billion pounds ($2.45 billion) at start of trading.

The London-based group is selling shares representing 24.6 percent of its equity, assuming no exercise of an over-allotment option, raising gross proceeds of 360.1 million pounds.

The company said on Thursday it will receive 100 million pounds of gross proceeds from the offer, while some of the rest will go to backers such as SM Trust, Index Ventures, Vitruvian Partners, Redpoint Ventures and Greylock Partners who will sell shares.

$1 = 0.6012 British Pounds Reporting by Paul Sandle; Editing by Brenda Goh

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