Johannesburg - South African fast-food
chain Nando's, best known for its hot and spicy chicken meals,
denied on Tuesday speculation it was considering a stock market
flotation.
Citing unidentified sources, Bloomberg reported on Monday
that Nando's was weighing an initial public offering (IPO),
possibly in London, to raise money for expansion.
"The speculation about a Nando's IPO is incorrect, nor are
they currently considering fundraising," the company said in a
statement.
"Nando's is a privately owned business that still owned by
the entrepreneurs who set up the business in the first place."
Read also: Nando's mulls listing
Founded in Johannesburg by friends Fernando Duarte and
Robert Brozin, Nando's has transformed itself from start up in
1987 to a multinational brand with more than 1 000 branches in
35 countries that include the United Kingdom, India and the
United States.
An IPO would have marked a return to the stock market after
the company delisted from the Johannesburg stock exchange
following a buyout led by management, including Brozin and
Duarte.