February 7, 2017 / 8:36 AM / 10 months ago

Thai food operator Mudman plans IPO by early Q2

BANGKOK, Feb 7 (Reuters) - Thailand’s Mudman Plc, which operates global food brands including Au Bon Pain in the country, plans an initial public offering by early second quarter to fund expansion plans, its lead underwriter said on Tuesday.

The company plans to sell about 211 million shares, or a 20 percent stake, said Maybank Kim Eng Securities (Thailand) Chief Executive Montree Sornpaisarn, adding bookbuilding was expected in March.

Mudman expects to spend 200-220 million baht ($5.7-$6.3 million) on existing and new branches, its Chief Executive Officer, Nadim Xavier Salhani, told reporters at a press conference.

The company also operates Dunkin’ Donuts and Baskin Robbins brands as well as its own Greyhound Cafe. It has 439 branches of Au Bon Pain, Dunkin Donuts, Baskin Robbins and Greyhound restaurants and cafes.

It plans its first Greyhound Cafe branch in London this year.

$1 = 35.01 baht Reporting By Wirat Buranakanokthanasan; Writing by Pairat Temphairojana; Editing by Subhranshu Sahu

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