Another US restaurateur heads to stock market

The US is to see another restaurant company joining the country's stock exchanges, following Domino's Pizza decision to seek a listing a month ago.

Kentucky-based chain Texas Roadhouse wants to raise $230m by offering shares that will be traded on the Nasdaq exchange.

The company had 162 restaurants in 32 states at the end of last year. Sales were $287m producing profits of $35m.

The developing trend for restaurant companies to seek a stock market listing in the US is in sharp contrast to the UK. In Britain, chains such as PizzaExpress, ASK, Chez Gerard, Signature, Oriental, Harry Ramsdens and Fish have all left the stock market in recent years.