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Tim may tap $580-mln
* Z1 M2 ?6 Q5 d5 c2 D* b, XAssociated Press9 Y' p1 l5 F% K1 T
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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 $20 (U.S.) per share in its upcoming initial public offering. 发行2千9百万股票,价格18-20美元,即将进入公开招股程序。! L% _+ [# J* m2 _' C; U% h$ f
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Wendy'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%4 \4 p+ \9 R2 [6 K$ o. N+ K2 {/ P* z
`2 _' L9 E. C. l1 h b$ kWendy'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。
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% m% a) }; R5 o5 @! R' uUnder 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 $3.8-billion. 若以20发行,会为TIM筹得5亿8千万的资金,TIM的总市值达38亿, r* M7 T% A6 m6 r$ L, L
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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。+ T: s* g7 P- |% B: Q
& _" o+ M5 i! XThe 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." A& e: X! C5 \6 j! {
会在多伦多、纽约证券交易所交易,交易代码THI. j/ @, i% o0 H2 j0 i+ v
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* `6 y5 \' a$ K9 k' L$ @
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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.. w1 i& N& a& q2 [' I
' y8 B+ K1 }* F& {) ATim 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.; ?3 P) ~# e/ r' i* J- |
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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.
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Burger King Holdings Inc. has announced plans to go public as well. |
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