Domino's Pizza operator in Turkey and Russia aims for greatness on London Stock Exchange with £331m float

William Turvill
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Craig Birchall, a Domino's Pizza franchi
DP Eurasia wants to open more outlets in Russia (Source: Getty)

The company behind Domino’s Pizza franchises in Turkey, Russia, Azerbaijan and Georgia could be valued at up to £331m when it floats in London later this month.

DP Eurasia has announced it expects to enter the London Stock Exchange on 28 June, with shares valued at between 200p and 230p.

The initial public offering (IPO), which has been on the cards since 5 June when DP Eurasia announced its intention to float, would value the company at between £291m and £331m.

Read more: Fancy a slice? Domino's franchisee in Russia announces London float

The share sale will raise the company around £21m, which will be used to open new outlets in Russia.

Conditional dealing is due to begin on 28 June, when DP Eurasia announces its final pricing, with unconditional dealing from 3 July.

Morgan Stanley is sponsor, sole global co-ordinator and joint bookrunner on the deal, while Citi is also a joint bookrunner.

“DP Eurasia is a rapidly growing, market-leading fast food business in Turkey and Russia, using the proven Domino’s Pizza model that has delivered significant shareholder value in other listed master franchisees around the world,” said chief executive Aslan Saranga.

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“This is an exciting time as we continue to innovate and invest in technology to maximise delivery experience to drive growth in our markets.

“We look forward to our future as a listed company, which combined with our well-established business model, will accelerate our growth plans in our highly attractive, underpenetrated markets.”

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