South Africa's Nandos plans stock market return: report

Reuters
A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, file. REUTERS/Toby Melville/File Photo

JOHANNESBURG (Reuters) - South African fast-food company Nandos Group is considering an initial public offering (IPO), possibly in London, Bloomberg reported on Monday, as the maker of Portuguese-style peri-peri chicken seeks to raise funds. Bloomberg quoted unnamed sources, who said that no final decisions had been made yet and the company could look at other ways to raise funds. The company, which traded on the Johannesburg Stock Exchange between 1997 and 2003, is weighing a London listing among other potential venues, Bloomberg reported. Nandos, which operates restaurants selling peri-peri chicken, has grown from being a local brand to an international one operating in countries that include the United Kingdom, the United States, India, Australia, Qatar and Malaysia. Nandos could not immediately be reached for comment. (Reporting by Nqobile Dludla. Editing by Jane Merriman)