Burger King franchisee Rex Concepts launches IPO
Burger King and Popeyes franchise operator Rex Concepts has set the maximum price for its initial public offering (IPO) at 17.50 zlotys per share, the company confirmed on Thursday.
The Central European quick-service restaurant group operates Burger King and Popeyes franchises across Poland, the Czech Republic, and Romania, and is preparing one of the region’s notable consumer-sector listings this year, News.Az reports, citing Reuters.
Rex Concepts previously said it expects to raise up to 560 million zlotys (around $156 million) through the issuance of new shares.
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The company plans to use the proceeds to fund its expansion strategy, strengthen operations, and potentially pursue market consolidation in Central and Eastern Europe. It has also indicated interest in introducing new restaurant brands in the region.
Under the offering, Rex Concepts will issue up to 32 million new shares, while selling shareholder Rex Invest CEE will offer an additional 3.6 million existing shares.
In total, the shares on offer will represent up to 37.34% of the company’s equity after completion of the issuance.
Between 10% and 20% of shares are expected to be allocated to retail investors, with the remainder going to institutional buyers.
The book-building process for institutional investors and subscription period for retail investors will run from April 17 to April 23.
Final pricing is expected to be announced around April 24, while trading on the market is scheduled to begin on May 7.
By Aysel Mammadzada
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