Duskin To List On Tokyo Bourse This Year

Asia News:

Duskin Co. Ltd., a provider of cleaning services and operator of Japan’s biggest doughnut retailer chain, plans to float its shares on the Tokyo Stock Exchange by the end of this year with a public offer worth up to 30 billion yen ($257 million), a source close to the deal said on Wednesday.

Duskin, which operates some 2,500 franchise outlets that rent cleaning products such as mats and mops to business and retail customers, has said it is preparing for a listing.

“The offering of new shares and outstanding shares together would total between 20 to 30 billion yen,” said the source, who declined to be identified.

“The listing is set to be done by the end of this year.”

The Osaka-based company has said Daiwa Securities SMBC Co. Ltd. will lead-manage the listing. Duskin also operates several restaurant chains under franchise, including some 1,300 Mister Donut stores.

While Mister Donut in the United States has been taken over by Dunkin’ Brands Inc. and no longer exists, it has a history of more than three decades in Japan and is the most popular doughnut shop brand.