London: British-based sandwich chain Pret A Manger plans an initial public offering, which would value the business at between 150 million and 280 million pounds ($300.2 million and $560.3 million), a newspaper said.
The firm is likely to seek a listing within the next 18 months, CityA.M. reported on 24 April, citing the food chain’s founder Julian Metcalfe, who owns two-thirds of the business with co-founder Sinclair Beecham.
Pret’s other major shareholders include fastfood giant McDonald’s, which bought a 33% non-controlling stake of the firm for 50 million pounds in 2001, the report said.
Pret, which has branches in Britain, New York, Hong Kong and Singapore, reported a pretax profit of 8 million pounds last year on a turnover of 190 million pounds, it said.