By Reuters Staff
2 Min Read
MOSCOW, March 3 (Reuters) - Russian food service operator Dodo Brands said on Wednesday it is planning an initial public offering in early 2024, the latest firm in the country to eye a listing with stock markets lifted by post-pandemic recovery hopes.
Dodo Brands said the plan was part of a wider strategy to develop its three food ventures - Dodo Pizza, Drinkit and Doner 42 - over the next three years and achieve earnings before interest, tax, depreciation and amortisation (EBITDA) of at least $30 million in 2024.
It also said it would issue rouble-denominated bonds in Moscow next year or seek financial investment as an interim step towards the stock market listing.