Turkey's leading company in the fast food sector TAB Gıda, which holds the operating rights to Burger King franchises in Turkey and China as well as the Turkish branches of international fast food giants like Popeye's, Sbarro and Arby's, is reportedly preparing for a public offering in late January. The biggest company outside the U.S. is planning to list shares on the New York Stock Exchange (NYSE) as early as next year, according to a Bloomberg report published on Friday.
The report claims that TAB Gıda Yatırımları A.Ş. - which owns the Restaurant Brands International, Inc. burger chain franchise in China and Turkey via its TAB Gıda unit - is working with Moelis & Co., Goldman Sachs Group, Inc. and Credit Suisse Group AG for the IPO.Turkish companies are increasingly planning to start trading shares on the stock market, including overseas listings, as political and economic stability has been reinvigorated, particularly after the April 16 constitutional referendum.
On Thursday, Turkey's largest private hospital chain the Medical Part Group was also reported to have initiated preparations for a London IPO.Global Ports Holding, Plc listed shares in the U.K. capital in May.Turkish companies rarely trade on the NYSE. Phone carrier Turkcell İletişim Hizmetleri A.Ş. listed its American depositary receipts on the NYSE in the year 2000 as part of its Istanbul listing.Goldman Sachs, Credit Suisse and the European Bank for Reconstruction & Development last year invested $150 million for a nearly 10-percent stake in TAB Food Investments (TFI), valuing the company at about $1.5 billion.
TFI started expanding Burger King and other franchises into China in 2012 through a unit called BK China, according to information on the company's website.Within a short span of five years, BK China built approximately 750 restaurants, becoming the fastest growing company in the Burger King system. BK China is present in 117 cities across the country, from Wulumuqi in the west to Shanghai in the east. TFI Chairman Erhan Kurdoğlu and other executives said last year that the company plans to invest $800 million by 2019 to double its restaurants to 3,000 locations, according to a report in the Turkish daily Dünya.
Please click to read our informative text prepared pursuant to the Law on the Protection of Personal Data No. 6698 and to get information about the cookies used on our website in accordance with the relevant legislation.
6698 sayılı Kişisel Verilerin Korunması Kanunu uyarınca hazırlanmış aydınlatma metnimizi okumak ve sitemizde ilgili mevzuata uygun olarak kullanılan çerezlerle ilgili bilgi almak için lütfen tıklayınız.