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Updated:
17:30 EST, 18 November 2017
A New York stock market listing for Pret A Manger appears to be facing delays.
Private equity firm Bridgepoint, which bought Pret in 2008, hired advisers back in May to explore a listing this year.
It was suggested the sandwich chain’s valuation could hit £1.5billion on Wall Street. But it now looks unlikely that it will list before the New Year.
NY listing: It now looks unlikely that Pret will list before the New Year
Market sources suggested Bridgepoint had gone off the idea. ‘There was talk of listing it but they’re not going to at the moment,’ said one source, pointing to a turbulent time on Wall Street for fast food stocks such as Shake Shack.
A spokesman for Bridgepoint however insisted that work on a float is still underway.
He said: ‘We continue to consider the option of a US IPO and will proceed when preparations are complete and market conditions appropriate.’
Last week, Bridgepoint bought the Burger King brand in the UK. It also owns the ASK Italian and Zizzi restaurant chains.