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Tim may tap $580-mln1 n# f3 O( V5 {% Q$ }: ~% y" ^
Associated Press2 |/ [* ~( p( g% U2 Z/ H! R
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DUBLIN, Ohio — Canadian coffee and doughnut chain Tim Hortons Inc., which is owned by Wendy's International Inc., filed paperwork estimating it will offer 29-million shares in a price range of $18 to $20 (U.S.) per share in its upcoming initial public offering. 发行2千9百万股票,价格18-20美元,即将进入公开招股程序。# J' r" z( E; l5 t7 e5 I8 U- \
, p& F% X+ U( @# W, |0 dWendy's, based in Dublin, Ohio, will continue to own about 85 per cent, or around 160-million shares, of Tim Hortons' common stock after the IPO, according to a filing Monday with the Securities and Exchange Commission. Wendy's stake could be reduced to about 83 per cent if the IPO's underwriters fully exercise an overallotment. Wendy's现时拥有Tim Hortons85%的权益,公开发行后,Wendy's的权益会降至83%
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& c( s0 s& v2 @0 wWendy's intends to spin off the remaining stake to its shareholders within nine to 18 months after the IPO, which is expected in March, according to the filing. Wendy's在Tim发行后9至18个月内会逐渐减持TIM的股票。0 P% z, p# C. ~: ~6 B+ T
. ?4 ^+ r |" u, f% |8 w) j! lUnder the $20 share price estimate, the IPO could raise $580-million for Tim Hortons. Including the shares Wendy's will retain, the chain would have a market capitalization of up to $3.8-billion. 若以20发行,会为TIM筹得5亿8千万的资金,TIM的总市值达38亿" A: @) C5 k" t! M! k/ l* U
1 _" C Q; ?# ?Most of the money raised will be used to pay off debt Tim Hortons owes its parent company. 所筹资金主要用于支付欠母公司的债务。
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5 Q" B/ F% q5 D* K6 C. wThe stock will trade under the symbol THI on the Toronto Stock Exchange and Tim Hortons has applied for the same symbol on the New York Stock Exchange.+ ?: x" f) y# A8 C7 H
会在多伦多、纽约证券交易所交易,交易代码THI% A0 E1 K6 K# t4 l# C
The offering is being underwritten by Goldman Sachs, RBC Capital Markets Corp., JPMorgan Chase and Scotia Capital.股票由高盛、JP摩根等承销( V( o* u" K$ c
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Tim Hortons has made steady sales gains during a sluggish year for Wendy's, the nation's third-largest burger chain.8 C0 v1 V# X0 K) }3 L$ g
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Tim Hortons had 2,885 stores in Canada and the United States as of Jan. 1 and recorded revenues of $1.2-billion last year, according to Wendy's latest earnings report.
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In a January offering of Chipotle Mexican Grill, owned by McDonald's Corp., nearly 7.9 million shares doubled in their first day of trading to close at $44.* a8 t' F8 [) Y& H! Q) _
$ X/ r; i' E" H* L% z' \3 j1 n! LBurger King Holdings Inc. has announced plans to go public as well. |
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