Burger King China operator mulls Hong Kong IPO
Burger King China’s owner is mulling a public listing in Hong Kong which could value the business at around US$1 billion.
According to sources quoted by international business media, the Hong Kong plan is a fallback after plans to list the business in the US last year were shelved.
Burger King China is owned by Turkish-based company TAB Food Investments. It currently operates about 1000 stores across 150-plus cities in Mainland China.
One source said the IPO could raise about $200 million, although a fixed figure has not yet been set and the idea is still under consideration. If an IPO proceeds, it would most likely be early next year.
TAB Food Investments is the world’s largest master franchisee of the Burger King brand, with more than 1700 stores across China and its home market.
Asked for comment on the reports, the company’s chairman Erhan Kurdoglu told a journalist: “We always assess IPO possibilities. However, there’s no concrete development on that front as of now.”
TAB Food Investments also holds the franchise rights for Popeyes Louisiana Kitchen and recently announced plans to roll out more than 1500 outlets in China during the next 10 years.