Madero restaurant chain requests registration for IPO – Money Times

Restaurant chain owner Madero and Geronimo Register for an initial offer from Procedures (underwriting), the search for resources to pay off debts and expand the business.

Headquartered in Parana And 238 units across the country, Madero was founded in 2005 by businessman Luiz Durski Junior.

In 2020, Dursky Jr. was embroiled in a controversy, after he said the consequences of social isolation would be worse than the deaths caused by the virus. COVID-19.

Currently, the epidemic has killed more than 550,000 people in the United States Brazil.

Last year, reflecting the effects of restrictions due to the pandemic, Madero’s net revenue fell 12% compared to 2019, to OMR747 million.

The company also incurred a loss of 249 million riyals in 2020, and another loss of 90 million riyals in the first half of this year.

In the initial offering prospectus, however, the Business It states that its store sales have already reached levels similar to those that existed before the pandemic and that it will use half of the new measures resources for its expansion plan.

The other half of the new resources will be used to pay off debts. From the end of 2020 to the end of June, Madero’s net debt increased from 652.3 million riyals to 913.6 million riyals.

The show will be formatted by Actual BTG (BPAC11), American bankAnd Bradesco BBIAnd Itaú BBA, UBS-BB e JP MorganIt will also work with the company’s existing partners, including Carlyle Private Equity Fund, whose Madrid Fund invested OMR70 million in the company in 2019.