Bento Sushi plans IPO on TSX

Canadian sushi restaurant chain Bento plans to go public and list its shares on the Toronto Stock Exchange.

Founded in 1996, the Toronto-based chain has grown over the years to become the No. 1 sushi restaurant in Canada in terms of sales, and the No. 2 in North America. Bento has more than 500 locations, and its pre-made meals are available in more than 1,500 grocery stores.

Bento serves more than 20 million customers a year and plans to add another 400 locations in the next five years, the company said in a preliminary prospectus filed with regulators on Monday.

Bento’s sales have grown by more than five per cent in each of the past two years, and it plans system-wide sales of more than $143 million this year.