Asia Focus Franchise Holdings Sdn Bhd (AFFH), which owns two homegrown halal franchisors, Chicken King and Shokudo, is preparing to carry out an initial public offering (IPO) on the London Stock Exchange’s AIM market in third quarter this year.
Its chairman George Miranda said the management team was determined to make Chicken King and Shokudo a fast-growing Asian alternative to other restaurant franchises.
“We are excited about increasing the profile and capital base of a Malaysian brand through an IPO on AIM,? he said in a statement on May 9.
He said the company would seek to raise about RM10 million from the IPO, “sufficient? for the opening of 10 new Chicken King outlets and three new Shokudo outlets in Malaysia over the 24 months after the IPO.
“This will strengthen our base; all international expansion will be through franchising,? he said, adding that it was reviewing local franchise applications to selectively increase its presence in Malaysia.
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