Listing option to help Nando’s spread wings
A listing would help the group raise cash to fund further expansion and provide a means for current investors to cash out some or all of their holdings
When former US president Barack Obama visited South Africa in 2013, he commented that in the US they could see the reach of South African culture, pointing to the fact that there was a Nando's outlet just a couple of blocks from the White House. Now, the fast-food franchise group, opened in Rosettenville, Johannesburg, by Fernando Duarte and Robbie Brozin in 1987, could be a step closer to realising its global brand ambitions, if it decides to publicly list. This week, Bloomberg and the Telegraph reported that Nando's was in the early stages of planning a share sale. The group dismissed the reports, denying that it was planning to list on the London Stock Exchange. When asked for an interview, Nando's Southern Africa CEO Geoff Whyte said he was in the UK "with a back-to-back schedule". The LSE would not comment on whether it had received an application from Nando's to list. A listing could still be on the cards as it would help the group raise cash to fund further expansion and prov...
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