IPO planned for Czech restaurant chain Coloseum

by   CIJ Linguistics
2020-11-19   07:31

The owner of the Coloseum chain of Italian restaurants in the Czech Republic will be taking his company public. Jan Muzatko said he would be selling 30 percent of the shares in the company through the IPO and that the shares would be available for trading on the Start trading platform. It would be the ninth title on the platform. There are currently 15 Coloseum restaurants in the Czech Republic. Muzatko says his company is financially strong and that once life returns to normal, business will pick up quickly. "Covid is bringing change, new doors are opening," he told Hospodarske noviny. The 30 percent share is being valued at CZK 234 million. The IPO should take place in the first half of 2021, with funds to be used on paying off existing debt and business partners along with planned investments. Muzatko hinted that he might sell off CZK 10 million in shares privately to a few friends and business partners. He admitted that having achieved sales of CZK 423 million in 2019, the figure this year would most likely be limited to CZK 250 million. Having employed around 400 people before the crisis, he now has just a staff of just 120.