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SSP Group Announces IPO for Travel Food Services in India

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SSP Group Announces IPO for Travel Food Services in India

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SSP Group plc ( (GB:SSPG) ) has issued an update.

SSP Group plc, in partnership with K Hospitality Corp, has announced the proposed initial public offering (IPO) of Travel Food Services (TFS) in India, with the Red Herring Prospectus filed and a price band set between 1,045 to 1,100 Indian Rupees per share. SSP will purchase an additional 1.01% stake in TFS, bringing its total holding to 50.01%, as TFS prepares for listing on Indian stock exchanges. This move is part of SSP’s strategy to strengthen its position in the Indian market and enhance TFS’s market-leading status in the fast-growing travel sector. The IPO is expected to highlight the value created by SSP’s investment in TFS and provide a platform for future growth, benefiting shareholders and enhancing TFS’s reputation and competitive position.

The most recent analyst rating on (GB:SSPG) stock is a Hold with a £2.10 price target. To see the full list of analyst forecasts on SSP Group plc stock, see the GB:SSPG Stock Forecast page.

Spark’s Take on GB:SSPG Stock

According to Spark, TipRanks’ AI Analyst, GB:SSPG is a Outperform.

SSP Group plc is well-positioned with strong financial performance and positive corporate events, suggesting confidence in governance and future prospects. However, high leverage and an overvalued P/E ratio present risks. Technical indicators show stability but limited short-term momentum, balancing the overall stock score.

To see Spark’s full report on GB:SSPG stock, click here.

More about SSP Group plc

SSP Group plc is a global leader in operating food and beverage outlets in travel locations, employing around 49,000 people across over 3,000 units in 38 countries. The company specializes in designing and operating a diverse range of food and drink outlets in airports, train stations, and other travel hubs, offering sit-down and quick service restaurants, bars, cafés, lounges, and food-led convenience stores. SSP focuses on delivering exceptional taste, value, quality, and service while promoting sustainability in the food travel sector.

Average Trading Volume: 1,957,676

Technical Sentiment Signal: Sell

Current Market Cap: £1.39B

Learn more about SSPG stock on TipRanks’ Stock Analysis page.

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