South Africa's Nandos denies stock market flotation report

by Reuters 0

South African fast-food chain Nandos, best known for its spicy chicken meals, denied speculation on Tuesday it was considering a stock market flotation.

Citing unidentified sources, Bloomberg reported on Monday that Nandos 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.