By Abigail Summerville and Echo Wang
New York (Reuters) -Black Rock Coffee Bar has tabled a first public offer in New York which could enhance the coffee chain at more than a billion dollars, according to four people familiar with the problem.
The restaurant belonging to the founder operated the investment banks JPMORGAN CHASE, Jefferies Financial and Morgan Stanley to work on its list, which could occur this year, the sources said.
Confidential deposits allow companies to keep private financial and strategic information while engaging with regulators and the assessment of the appetite of investors before an official launch.
The sources have warned that the plans could change, depending on market conditions and spoke on condition of anonymity to discuss private deliberations.
Black Rock Coffee, Jpmorgan, Jefferies and Morgan Stanley refused to comment.
Previous expectations for a bright rebound in American stock market IPOs this year were attenuated by geopolitical tensions and economic uncertainty, including concerns about prices. However, recent signs of market stabilization have encouraged bankers and businesses to get ahead with the lists, which increases the hope of an increase in the IPO in the second half.
Investors’ appetite for new announcements, especially for some high -growing names, also gives a boost. The FIGMA design software company has increased the indicative price range for its next IPO this week, and the actions of the AI Coreweave Cloud Computing company has jumped almost 170% since their beginnings in March.
The smallest coffee channels with loyal customers have taken the share of great players such as Starbucks. Another regional channel, Scooter’s Coffee, explores a sale that could enhance it to almost $ 1 billion, Reuters reported this month.
The co-founders Jeff Hernandez and Daniel Brand launched Black Rock Coffee in 2008 in Oregon. It has more than 150 locations in Arizona, California, Colorado, Idaho, Oregon, Texas and Washington.
The company based in Scottsdale, Arizona, has in force locations and sells hot and frozen cafes and energy drinks. Another coffee channel by car, Dutch Bros, became public in 2021 with an assessment of more than $ 5 billion.
(Report by Abigail Summerville and Echo Wang in New York; edition by David French and Rod Nickel)
