Sandwich retailer Pret A Manger plans a £280m flotation to raise money for overseas expansion. City AM
Pret, which opened its first store in London in 1986, said it was likely to seek a listing within 18 months.
Co-founder and chief executive Julian Metcalfe, who owns two-thirds of the company, said he wants to finance further expansion into the US, Hong Kong and Singpaore.
McDonald's owns 33% of the company, which has 180 stores and opened more than 12 last year.