Restaurant chain CKE sees IPO at $14-$16/share

Mon Jul 30, 2012 4:39pm IST

Stocks

   

* Sees IPO of 13.3 mln shares

* Co to offer 6.6 mln shares, rest by major shareholder

* To list shares on NYSE under ticker "CK"

July 30 (Reuters) - Private equity-backed CKE Inc, which operates the Carl's Jr and Hardees fast-food chains, expects to sell 13.3 million shares in its initial public offering at between $14 and $16 each.

The company, which intends to list its shares on the New York Stock Exchange under the symbol "CK", will offer half of the shares in the offering, with the rest being sold by major shareholder Apollo CKE Holdings LP, CKE said in a regulatory filing.

CKE, which was taken private by Apollo Management in a nearly $700 million deal in 2010, said last Monday it planned to raise as much as $230 million, up from $100 million it had indicated in May.

Morgan Stanley, Citigroup and Goldman Sachs are lead underwriters of the offering.

A number of private equity-backed restaurant offerings are on the IPO radar as they hope to tap investor demand for specialty regional chains.

Bain Capital-backed Bloomin' Brands -- the parent company of Outback Steakhouse -- is expected to list its shares on the Nasdaq next week.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

IT Sector

REUTERS SHOWCASE

Tracking Asia

Tracking Asia

Asian stocks subdued on Ukraine caution  Full Article 

Commodities

Commodities

Gold inches up as Ukraine tensions stoke safe-haven buying  Full Article 

A Tough Sell

A Tough Sell

Insurance against a China financial crisis  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage