GDANSK, April 17 (Reuters) - Central European quick-service restaurant operator Rex Concepts has set the maximum price for its initial public offering at 17.50 zlotys per share, the group said late on
Burger King franchisee Rex Concepts sets maximum IPO price at 17.50 zlotys per share
Rex Concepts IPO Details and Expansion Plans
By Julia Zmarzlik, Adrianna Ebert and Rafal Wojciech Nowak
IPO Pricing and Share Offering
GDANSK, April 17 (Reuters) - Central European quick-service restaurant operator Rex Concepts has set the maximum price for its initial public offering at 17.50 zlotys ($4.88) per share, it said late on Thursday.
Share Distribution
The master franchisee of the Burger King and Popeyes brands in Poland, the Czech Republic and Romania will offer up to 32 million newly issued shares in the IPO. Rex Invest CEE will also sell up to 3.6 million existing shares for stabilisation purposes.
Timeline for Pricing and Trading
The final pricing is due to be announced around April 24 and the shares are expected to start trading on May 7.
Use of Proceeds and Growth Strategy
Funding and Business Plan
Rex Concepts has previously said it expects gross proceeds of up to 560 million zlotys from the issuance of new shares. It plans to use the funds to finance its business plan and accelerate growth, possibly pursuing market consolidation in Central and Eastern Europe or introducing new brands within the quick-service food sector.
Expansion Goals
The company plans to open about 70 new restaurants in 2026 and aims to expand its network to around 700 locations across its three markets by 2032.
Franchising Opportunities
It is eyeing franchising opportunities in drinks, better-for-me and Mediterranean cuisine segments, CEO Olgierd Danielewicz said during a conference call.
Financial Targets and Dividend Policy
Revenue Growth and Market Expansion
Rex Concepts also aims to triple its revenue by 2028 and expand into additional markets exclusively within Central and Eastern Europe.
Dividend Policy
Its dividend policy does not foresee a dividend payment before 2029 due to franchise agreements.
Growth Strategy Statement
"By opening 70 to 80 company-owned restaurants a year, or more, while pursuing our other growth plans, I think it is only natural that we want to be a growth-type company rather than a value-type one," finance chief Malgorzata Kloka said.
Additional Information
($1 = 3.5879 zlotys)
(Editing by Milla Nissi-Prussak)
