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Just Eat IPO shows continued appetite for UK tech companies to list in London over the US

3 April 2014

As Just Eat lists on the high growth segment of the main market, analysis from Deloitte, shows that no UK technology companies have listed in the US since the start of 2011, apart from King. In the same period, over 20 UK technology companies listed in London, albeit the majority on AIM, the junior market. Deloitte reviewed all technology IPOs on the NYSE, Nasdaq, LSE (Main) and AIM markets from the beginning of 2011 to date.

John Hammond, head of equity capital markets at Deloitte said: “This dispels the myth that there has been a flight of UK technology companies to the US. The number of new technology admissions to AIM over the last few years indicates that this market is doing its job as an incubator for UK companies. Indeed, with the IPOs of Servelec and Just Eat, it is also clear that UK technology companies of size are also viewing the main market as their listing destination of choice.”

“By introducing the high growth segment, the LSE wanted to give growth companies greater flexibility when considering a listing in London, and Just Eat has taken advantage of this increase in choice. More widely, it is great for the UK tech community as a whole that we are not losing companies that have grown up in the UK to the public markets in the US.

“Deloitte’s own pipeline anticipates that several more UK technology companies will choose to list in London rather than other overseas stock markets in the coming years.”

End

Notes to editors

Analysis is based on publicly available information. Companies have been included with a primary category of ‘technology’ in the UK and ‘TMT’ in the US.

Technology stocks are included according to their categorisation by the relevant listing authority. Media and entertainment stocks are included where there is an obvious technology focus to their business.

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited.

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