South Africa's Nando's denies stock market flotation report

South African fast-food chain Nando's, best known for its hot and spicy chicken meals, denied on Tuesday speculation it was considering a stock market flotation.
Citing unidentified sources, Bloomberg reported on Monday that Nando's was weighing an initial public offering (IPO), possibly in London, to raise money for expansion. 
"The speculation about a Nando's IPO is incorrect, nor are they currently considering fundraising," the company said in a statement.
"Nando's is a privately owned business that still owned by the entrepreneurs who set up the business in the first place."
Founded in Johannesburg by friends Fernando Duarte and Robert Brozin, Nando's has transformed itself from start up in 1987 to a multinational brand with more than 1,000 branches in 35 countries that include the United Kingdom, India and the United States.
An IPO would have marked a return to the stock market after the company delisted from the Johannesburg
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