Sphera Franchise Group plans to float on BVB

28

Sphera Franchise Group, the brand operator of KFC, Pizza Hut, Pizza Hut Delivery and Taco Bell, announces today its intention to launch an initial public offering (IPO) of existing ordinary shares to retail and institutional investors in Romania and to international institutional investors, outside U.S.A., a press release informs.

Sphera intends to apply for admission of its shares to trading on the Regulated Spot Market of the Bucharest Stock Exchange (BVB), following the successful closing of the offering.

IPO will consist of shares representing approximately 25 percent of the total number of shares issued by the company. Detailed information about the Offering will be published in the Prospectus once approved by the Financial Supervisory Authority (ASF).

Sphera was incorporated in May 2017 to consolidate under one company all companies holding franchise rights to operate KFC and Pizza Hut branded restaurants in Romania, Republic of Moldova and in two regions in Northern Italy. One of Sphera’s subsidiaries is expected to open its first Taco Bell branded restaurant this Thursday, October 12.

The company’s ultimate beneficial owners are Radu Dimofte (43.67 percent indirect stake), Lucian Vlad (33.33 percent indirect stake) and Nicolae Badea (23 percent indirect stake). The three shareholders are amongst the founders of the KFC and Pizza Hut franchised business in Romania.

“Our business model has proven to be successful and allowed the roll-out of 40 new restaurants between 2012 and September 2017, while maintaining strong levels of like-for-like sales growth. We have further ambitious development plans with another 10 new openings planned by the end of 2017. We believe we have significant growth potential in the coming years, both in the performance of our existing restaurants and also through the roll-out of KFC, Pizza Hut and Taco Bell in Romania and the development of a sizeable KFC business in Italy,” Mark Hilton, CEO Sphera Franchise Group said, adding: ”Our plan is to exceed 240 restaurants by the end of 2022. We are encouraged by the market environment and anticipate that the positive macroeconomic and industry trends will continue in and beyond 2017. We believe in the Group’s prospects and are looking forward to this next important milestone in the Company’s development, the listing of its shares on BVB and raising the Group’s profile and visibility as a public listed entity.”    

Sphera recorded a net profit of RON 51.6 million in 2016, 9.2 percent higher than in 2015, amid sales of RON 514.5 million, 26.8 percent higher than in 2015.

- Advertisement -

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More