Nando’s shuts down talk of listing
South African chicken franchise Nando’s says it has no plans to rejoin the stock market, after unnamed sources told Bloomberg it was being considered.
In a statement issued on Tuesday, the group said that “the speculation about a Nando’s IPO is incorrect, nor are we currently considering fundraising.”
“Nando’s is a privately owned business that still owned by the entrepreneurs who set up the business in the first place,” it said.
Bloomberg reported that Nando’s was speaking to advisors and was in the early stages of planning an IPO, looking at the London stock exchange as a possible target.
Nando’s was founded in 1987 in South Africa, but has grown into an international franchise spanning over 35 countries. It has previously been listed on the JSE between 1997 and 2003, but was delisted after its managers bought more shares in the group.
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