Expanding noodle chain considers floating stock
Wagamama, which has 22 UK and four international outlets, is considering a stock market flotation.
Although the company denies immediate actions, a spokesperson admitted that a decision could be made within weeks.
“It’s still premature to talk about certainties, but we will probably be making a decision later this month or in early March,” she said.
Should the company decide to float, its value on the current market is believed to be between £40-50m.
Any funds from the IPO could be earmarked for its comprehensive expansion strategy, as it plans to open six new sites in the near future.
The next addition to its portfolio will be the Mansion House on Queen Street, London, which will open to public on 8 March.
Expansion plans also include outlets in Brent Cross, Richmond, Reading and Brighton.
Later in the year, the chain will add to its international outlets by opening a restaurant in Dubai.
Wagamama is 60 per cent owned by private equity firm Graphite Capital and opened its first restaurant in 1992. It has expanded rapidly in the last two years, nearly doubling in size since March 2002 from 14 sites to 26. Details: www.wagamama.com
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