South African chicken franchise Nando’s is considering a return to the stock market, Bloomberg reports – but will may give its home bourse a skip.
According to Bloomberg, citing people familiar with the matter, Nando’s is speaking to advisors and is in the early stages of planning an IPO, looking at the London stock exchange as a possible target.
However, the sources said that no final decisions on the move had been made, and that the company may look at other ways to raise funds.
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.
A Nando’s spokesperson told Bloomberg that it has no plans for an IPO and isn’t looking for ways to raise money.