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

Markets

REUTERS SHOWCASE

Canada Shooting

Canada Shooting

Attack on parliament, killing of soldier stun Canada's capital.  Full Article 

Earnings Season

Earnings Season

Wipro sees rosier end to year as U.S. clients spend.  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Book Keeping

Book Keeping

RBI fires warning shots on companies' lack of FX hedging.  Full Article 

Policy Repo Rate

Policy Repo Rate

Most external members suggested rate cut in RBI's Sept review.  Full Article 

Reuters India Mobile

Reuters India Mobile

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