The price of Just Eat's shares has soared following its IPO
The price of Just Eat's shares has soared following its IPOJust Eat

Just Eat shares are soaring by 10% on its stock market debut after investors became hungry for the online takeaway service company.

Its stock price hit 285.00p on its first day of trading, up from its 260.00p initial public offering price.

The IPO pricing valued the Danish fast food mogul at a staggering £1.47bn (€1.77bn, $2.44bn).

Just Eat is selling shares that will equate to an equity stake of 24.6% on its IPO, raising gross proceeds of a total of £360.1m.

It said that it will receive £100m of gross proceeds from the offer, with some of the rest going to backers in the form of SM Trust, Index Ventures and Redpoint Ventures to name a few.