Takeaway.com, the Dutch-based online restaurant ordering and delivery service, said on Tuesday it would seek a listing on Amsterdam's Euronext stock exchange in the coming weeks. The company said it would sell 175 million euros ($195 million) in newly-issued shares, as well as an unspecified amount of shares offered by current shareholders.
These include investors Macquarie and Prime Ventures, as well as founder Jitse Groen, who said he expected to sell 5 percent of his personal stake and remain the company's largest shareholder.
"The listing will provide Takeaway.com with additional capital to strengthen our operations and to fund our marketing efforts," Groen said on a conference call.
Takeaway is focussed in particular on Germany, where its Lieferando.de subsidiary is engaged in fierce competition with rival Delivery Hero. The company will also pay off all existing debts.
Two sources familiar with Takeaway's plans told Reuters last week the company was preparing an "intention to float". One banking source said the company was seeking a valuation of eight to nine times 2015 sales, or at least 800 million euros.
Another person familiar with the matter said that figure was "way too low," given the company's recent rapid growth.
On Tuesday, the company said it made a loss of 11.5 million euros ($12.8 million) in the first six months of 2016, on sales of 50.5 million euros.