​Takeaway.com To Raise Nearly $400 in IPO

Adam Smith | FlashRatings | Monday, September 19, 2016 2:34 PM EDT
Takeaway.com – a privately held online food-service ordering company based in the Netherlands – is cooking up plans to go public, seeking to scoop up nearly $400 million in an IPO.

Aiming to raise $390 million for a total market value of up to $1.25 billion, Takeaway.com will offer 8.5 million new shares and 10.6 million secondary shares at about $23 to $29.59 per share, reports Reuters. The company blocked details of its planned IPO pricing to those in the United States and several other nations. 

The news comes just two weeks after publicly announcing its intention to float stock for a public offering and a month after buying Benelux businesses in the Netherlands and Belgium from Just Eat plc. for more than $25 million.

Operating in 9 European countries and Vietnam, Takeaway.com allows restaurants to process food orders and online payments through its Websites and smartphone applications. The company makes money from commissions on the food ordered and from online payment services fees.

The company started in 2000 by its founder Jitse Groen, and operates as several different Websites in various countries: Lieferando.de, Lieferservice.at, Lieferservice.ch, Pizza.be, Pizza.fr, Pizza.lu, Pizza.pt, Pyszne.pl, Takeaway.com, Thuisbezorgd.nl, and Vietnammm.com.