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Home Food Fast food

Russian fast-food operator Burger Rus plans IPO

Jana Simmons by Jana Simmons
August 20, 2022
in Fast food
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Russian fast-food operator Burger Rus plans IPO

Berger Rus, the Russian operation of the Burger King speedy meals chain, ought to preserve an IPO at the Moscow Exchange this year. Reuters suggested on April 22, mentioning unnamed banking sources. Reportedly, VTB Capital, together with Morgan Stanley and JP Morgan, might be organizing the IPO.

Russian fast-food operator Burger Rus plans IPO 1

While now not a single IPO or SPO was seen in 2018, for the start of this 12 months, some of the companies have announced deals, including Polyus Gold, which raised $390mn from a placement, and rail operator RusTransCom that introduced IPO plans, amongst others. However, the SPO using essential meat Cherkizovo failed, as mentioned by one IntelliNews. Fast food turned into the quickest developing section of the Russian catering marketplace in 2018, increasing with the aid of thirteen% yr-on-yr to RUB1.52 trillion ($23.8bn) and taking almost 50% of the market. The fast meals section is developing quickest in Russia’s some distance-flung regions, due to decrease earning of the consumers.

Analysts surveyed through Vedomosti accept as accurate that Burger Rus is an appealing asset, however perhaps too small for an IPO, with expected sales of little over RUB50bn ($784mn) in 2019 and a valuation of approximately RUB34-37bn. But the catering marketplace is underrepresented on the equity market, which could improve investor interest. The franchisee of Burger King in Russia is one hundred% owned utilizing Cyprus-based Burger King Russia, managed via VTB Capital (obtained 48.8% stake in 2012 for $50mn), and Homeric Holding (20%, reportedly affiliated with Ukrainian bankers Makar Pasenyuk and Konstantin Stetsenko). The chain operates 550 Burger King restaurants in Russia.

Jana Simmons

Jana Simmons

Web expert. Reader. Travel advocate. Total problem solver. Bacon scholar. Introvert. Food ninja. Writer. Internet trailblazer. Spent 2001-2007 consulting about action figures for fun and profit. Earned praised for my work training karma in Naples, FL. A real dynamo when it comes to managing carp in Fort Lauderdale, FL. Set new standards for supervising the production of basketballs in Miami, FL. Spent the 80's working with human hair in Deltona, FL. Earned praise for importing cabbage with no outside help.

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