American Restaurants to issue shares for KFC and Pizza Hut expansion

American Restaurants, the company managing Poland's chain of KFC and Pizza Hut restaurants, wants to enter the Warsaw Stock Exchange and plans to issue shares for zl.500 million in 2003. Funds obtained from the share issue will be designated for faster expansion of the network, launching of new products, as well as further capital investments. The company was established last year as the result of a merger between Tricon Restaurants Poland and American Restaurants Services. Currently, it owns 47 KFC and 53 Pizza Hut restaurants in Poland, with sales last year amounting to zl.300 million. Since its entry into the Polish market in 1993, the company has invested $77 million and plans to pour about $75 million in 100 new restaurants employing more than 5,000 people. In mid-March it took over the Burger King network. By 2010 it intends to have a total of 1,000 restaurants in operation, increasing its sales volume by 25% each year. (Parkiet, p.4) M. S.-C.