Ireland’s Petrogas to raise funds for expansion of Applegreen fuel network, The Irish Times reports

Ireland-based Petrogas may sell shares of its subsidiary Applegreen, a service station business which the newspaper said hosts franchises of Burger King, Costa Coffee and Subways, as it plans to list on as many as two stock markets next year to raise expansion capital, The Irish Times said December 23.

“It is understood Petrogas would seek to raise more than 100 million euros for a business that is in expansion” and it may list Applegreen shares as soon as in the second quarter both in the Dublin and the London exchanges, The Irish Times published.

Petrogas Global Ltd. did not immediately reply to a request for comment from PetrolPlaza.

Petrogas did not have any information on its web page about any capital raising plans. However, its website did have information saying the company is “Ireland’s largest independent forecourt retailer with over 110 sites in Ireland and the United Kingdom” and that it employs 1,200 people.

Bob Etchingham, the company founder and CEO, created the Applegreen brand in 2005 and started Petrogas in 1992, it added.

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