Fancy a slice? Domino's Pizza franchisee in Russia and Turkey announces London float

 
Helen Cahill
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Dominos Pizza Files To Go Public
The firm will use the IPO for its Russian expansion (Source: Getty)

DP Eurasia, the franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia, has today announced its intention to float on the main market of the London Stock Exchange.

The firm intends to float on or around 3 July and is seeking to raise £20m, which will in part be used to fund the opening of new Domino's stores in Russia.

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The offer will comprise new shares in the company as well as shares currently owned by shareholders Turkish Private Equity Fund II (TPEF II) and Aslan Saranga, the chief executive of DP Eurasia.

Saranga and TPEF II bought the firm in 2010, and have since been expanding the business, setting up an average of 68 outlets per year since the acquisition.

DP Eurasia's sales have grown 38 per cent over the intervening period, and the group is aiming for "high single digit" growth in its like-for-like sales in Turkey.

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Of the five largest franchisees of Domino's, four are already listed; DP Eurasia is the fifth largest of the group.

Morgan Stanley and Citigroup are acting as joint bookrunners on the public offering.

Saranga said: "The Domino's Pizza brand is synonymous with high quality products, reliable service and attractive prices.

"We continue to innovate and invest in operational and delivery optimisation to drive growth, and this, along with our already high-brand awareness, and simple, and scalable, asset-light business model is the perfect platform from which to grow our network further."

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