Dominos Pizza in Turkey, Russia Aims for $422 Million Share Market Valuation


LONDON — DP Eurasia, the Domino’s Pizza franchise holder in Russia and Turkey, has set a price range of between 200 and 230 pence a share for its initial public offer on the London Stock Exchange, implying a market capitalisation of up to 331 million pounds.

The mid-point of the price range for DP Eurasia, which is Domino’s fifth largest master franchise, amounts to an expected offer size of 203 million pounds and an expected free float of more than 65 percent, including the exercise of the over-allotment option.

DP Eurasia, which was acquired in 2010 by local private equity firm Turkven and Aslan Saranga, who is now chief executive, currently operates 571 stores, the bulk of which are in Turkey with some in Russia, Azerbaijan and Georgia.

The company plans to open around 70 new stores this year – around 30 in Turkey, Azerbaijan and Georgia and 40 in Russia – and about 70 to 90 more stores every year in the medium term.

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