Burger King Sets IPO At 25M Shrs, $15-$17 A Share
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WASHINGTON (Dow Jones)--Underwriters for Burger King Holdings Inc. on Tuesday set the terms of the company's pending initial public offering at 25 million shares with an estimated price range of $15 to $17 a share.
On Feb. 16, Burger King filed an IPO to sell up to $400 million in common stock but didn't detail the terms of the offering.
The Miami-based fast food chain said it plans to list its common stock on the New York Stock Exchange under the symbol BKC.
(MORE TO FOLLOW) Dow Jones Newswires
May 02, 2006 13:45 ET (17:45 GMT)
Copyright (c) 2006 Dow Jones & Company, Inc.- - 01 45 PM EDT 05-02-06
Burger King Sets IPO At 25M Shrs, $15-$17 A Share -2-
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Burger King said it expects to use almost all of the net proceeds from the IPO to repay the $350 million borrowed under its senior secured credit facility in connection with the February financing and February dividend, with the balance used for general corporate purposes.
Listed as underwriters for the offering were J.P. Morgan, Citigroup, Goldman, Sachs & Co., Morgan Stanley, Wachovia Securities, Bear, Stearns & Co. Inc., Credit Suisse, Lehman Brothers and Loop Capital Markets LLC.
The underwriters also have an option to buy up to an additional 3.75 million shares to cover overallotments, Tuesday's SEC filing said.
-By Brian Coyle, Dow Jones Newswires; 202-862-3545
(END) Dow Jones Newswires
May 02, 2006 13:57 ET (17:57 GMT)
Copyright (c) 2006 Dow Jones & Company, Inc.- - 01 57 PM EDT 05-02-06 |
