The company said it will receive £100 million from the initial public offering (IPO) with the rest going to its venture capital backers, including Index Ventures and Vitruvian Partners and some of the senior management and employees.
Thursday marked the so-called "conditional dealings" of Just Eat, which is not open to the entire public and is usually traded by institutional investors. The "unconditional dealings" in which all investors can participate in share buying will begin on April 8.
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Just Eat's IPO comes amid a flurry of listings in the U.K. such as budget shop Poundland and online appliances retailer AO.com. There have been 32 flotations on the London Stock Exchange this year, raising £5.73 billion.
Many analysts have expressed the concern about high valuations of the recent listings, particularly technology firms.
Richard Holway, chairman of Tech Market View, said that while the business is a good one, Just Eat should not be labelled a technology company and fetch such a high valuation.
"My problem is that we label so many companies as tech stocks so giving them frothy tight valuations," Holway told CNBC in a phone interview.
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"Ultimately they will have to have a mature, tight valuation eventually. I'm fearful that if the bubble bursts and their share price goes down, it will ripple through all of the tech stocks."