An Shin Food Services Co (安心食品), the operator of Taiwan’s -second-largest fast-food chain, MOS Burger, is planning to list on the GRETAI Securities Market next month to fund its expansion plans.
The company is scheduled to issue 5.2 million shares, though the price per share has yet to be determined, an official from An Shin’s investor relations department said by telephone yesterday.
An Shin, which currently trades shares on the smaller Emerging Stock Market, plans to list on the secondary GRETAI bourse on Dec. 15, she added.
The initial public offering (IPO) will allow the food operator to raise capital and increase brand awareness for forays into international markets, the official said.
An Shin, in which business conglomerate Teco Group (東元集團) holds a 30 percent stake, was established in 1990 and licensed know-how from Japan’s MOS Food Services Inc to bring the fast-food brand to Taiwan.
In contrast to other chains that mainly pre-cook their burgers, MOS Burger is renowned for preparing food only after it receives diners’ orders.
As of Aug. 15, there were 353 McDonald’s outlets, 202 MOS Burger outlets and 133 Kentucky Fried Chicken restaurants in Taiwan, An Shin’s IPO prospectus said.
An Shin is also exploring business possibilities in China and Australia with its Japanese partner MOS Food. It currently has 12 outlets in Fujian Province.
The company plans to expand its presence in China and aims to have 80 outlets throughout the country by the end of next year.
An Shin also officially opened its first MOS Burger outlet in Brisbane, Australia, in April, with three more scheduled to open next month. It plans to increase the number to 20 by the end of next year.
The food operator reported earnings of NT$150.61 million (US$5 million), or NT$6.22 per share, for the first three quarters of this year, up from NT$146.17 million, or NT$6.04 per share, in the same period last year.
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