Dodo Pizza is scheduled to go public through an IPO (initial public offering on a trading floor) by early 2024. Fyodor Ovchinnikov, founder and owner of the parent company Dodo Brands, spoke about this in his Telegram channel.
“We attract 50-100 million dollars. Hundreds of thousands of people become our shareholders, many of whom are our compatriots,” Ovchinnikov wrote. According to him, such a step will have a positive effect on the company’s employees participating in the corporate share option program. They will be able to resell securities purchased on special terms for options.
The press service of Dodo Brands told Kommersant that the IPO is part of a large-scale Plan 333, designed for the next three years. According to him, the company’s pre-tax profit (EBITDA) in 2024 should reach at least $ 30 million.
The funds received during the placement are planned to be used to develop the network in Russia, as well as foreign branches, including in China and the UK. In addition to Dodo Pizza, the Dodo Brands portfolio includes the Drinkit and Doner 42 chains. At the end of 2020, the holding’s revenue increased by 27 percent – to 25.7 billion rubles, despite the crisis caused by the coronavirus pandemic.