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German restaurant chain Vapiano picks banks for stock market listing -sources
March 8, 2017 / 7:41 PM / in 8 months

German restaurant chain Vapiano picks banks for stock market listing -sources

FRANKFURT, March 8 (Reuters) - German restaurant chain Vapiano has picked banks to arrange its stock market listing, which may take place as early as after the European summer break, people close to the matter said.

The group’s owners, which include some of Germany’s wealthiest families, have asked Unicredit, Berenberg and Barclays to organise the Frankfurt initial public offering, they said.

Vapiano’s owners and Unicredit were not immediately available for comment, while Berenberg and Barclays declined to comment.

The restaurant chain, which specialises in Italian food, is expected to report earnings before interest, taxes, depreciation, and amortisation of about 30 million-35 million euros ($32 mln-$37 mln) in 2017.

Listed peer UK-based Domino’s Pizza trades at 18 times its expected core earnings. While Vapiano is hoping for a similar valuation, investors are likely to demand a discount, one of the people said. ($1 = 0.9483 euros) (Reporting by Arno Schuetze; Editing by Susan Fenton)

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