Cheeky IPO? Nando's is considering a float


Nando's sells its Portuguese-style peri-peri chicken in countries around the world (Source: Nando's/Instagram)

Nando's, the South African restaurant chain famous for its spicy peri-peri chicken, is reportedly considering a cheeky initial public offering (IPO).

Sources told Bloomberg Nando's is in the process of speaking to advisers and planning a share sale. Among its options, the Johannesburg-based company is mulling a London listing, the unnamed sources said.

In a statement, a spokesperson for Nando's told Bloomberg reports about plans for an IPO are incorrect, and the company isn’t looking at ways to raise money.

Nando's, which traded on the Johannesburg stock exchange until 2003 when it was delisted, would benefit from raising fund in a currency other than the South African rand.

After its creation in South Africa in 1987, Nando's chicken restaurants have popped up all over the world with locations in the UK, the US, Australia, Canada, Malaysia and Singapore.

In September 2016, the company offloaded Gourmet Burger Kitchen to another South African restaurant chain after purchasing it from Clapham House for £30m in 2010.