Domino's growth of nearly 10% in the pizza delivery market

The Michigan-based firm has more than 7,400 outlets, with pizza delivery and takeaway restaurants in every US state and in more than 50 other countries.

The company said the cash raised from the flotation might be used to pay off up to 40% of its debts.

Sales of pizzas at Domino's grew 5.8% for the company as a whole in 2003 compared with the previous year.

Slice of pie

Industry experts said recent investor enthusiasm for restaurant stocks could explain the timing as well as revived consumer confidence in the United States.

Domino's is seeking to list on the New York Stock Exchange. It already has a London stock market-listing for its UK offshoot which it floated November 1999.

Private equity firm Bain and Co, which owns 49% of Domino's, considered an IPO as much as two years ago, it told Reuters at the time.

Beginnings

The company was started in the US in 1960 by founder Thomas Monaghan. He opened the first company-owned store in Ypsilanti, Michigan and the first franchise followed in 1967. The US part of the operation has remained in private hands ever since.

Thomas Monaghan retired in 1998, but still owns almost 27% of the shares.

In the UK it has around one fifth of the pizza delivery market. It delivered its first pizza in Britain in 1985.

Domino's offers networks for online and interactive ordering and has a popular TV ordering service.