Just Eat is set to abandon its London Stock Exchange listing, citing factors such as high costs, administrative burden and regulatory requirements.

The rapid delivery firm, which was formed from the merger of London-based Just Eat and the Amsterdam-listed Takeaway.com in 2020, initially planned to scrap its Dutch listing, however, after delisting from the US in 2022, it maintained its duel listing in the founding countries.

Despite this, its secondary London listing will be next to go as Just Eat said the majority of its trading volumes happen at its primary listing venue on Euronext Amsterdam.

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A Just Eat Takeaway.com spokesperson told Grocery Gazette: “As we deliver our strategy to accelerate growth, we have been looking at enhancing efficiencies and made the decision to delist from our secondary listing venue on the London Stock Exchange.

“The UK continues to be a key market for us, home to many of our talented colleagues and our ever-expanding range of grocery and restaurant partnerships. With our network now covering 97% of the UK population, we remain committed to continuing our investment and cementing our leadership position in the country.”

It comes as Just Eat has sold its US business Grubhub to start-up food delivery company Wonder for $650m (£502.5m), a significant loss on the $7.3bn (£5.73bn) it paid for the firm four years ago.

The deal comes more than two years after Just Eat first indicated its intent to sell the US business, which floundered after the pandemic boom in rapid delivery services.