SSP's Indian JV IPO Could Be Worth Up to 1.5 Billion Pounds -- Market Talk

Dow Jones

2024-12-11

0910 GMT - Upper Crust owner SSP Group's planned IPO of its Indian joint venture Travel Food Services is expected to command an attractive rating, Shore Capital analysts Greg Johnson and Clive Black write. They note the premium valuations of comparable listed foodservice stocks in India and calculate the company could be worth 750 million to 1.5 billion pounds when it floats. The IPO will add continuing value for SSP shareholders, they say. SSP currently owns 49% in TFS and plans to increase this to 50.01% ahead of the IPO. SSP shares are up 4.4% at 195.0 pence. (ian.walker@wsj.com.)

(END) Dow Jones Newswires

December 11, 2024 04:10 ET (09:10 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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