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jrap · 03-01-2006, 10:00 AM

Canadian coffee and doughnut chain Tim Hortons Inc., which is owned by Dublin, Ohio-based Wendy's International Inc., has filed paperwork estimating it will offer 29 million shares in a price range of $18 to $20 a share in its initial public offering. Wendy's will continue to own about 85 percent, or about 160 million shares, of Tim Hortons' common stock after the IPO, according to a filing with the Securities and Exchange Commission. Wendy'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. Under the $20 share-price estimate, the IPO could raise $580 million. Including the shares Wendy's will retain, Hortons would have a market capitalization of as much as $3.8 billion.

03-01-2006, 10:00 AM
jrap Confirmed User Join Date: Feb 2005 Location: Toledo, Ohio Posts: 448	Canadian coffee and doughnut chain Tim Hortons Inc., which is owned by Dublin, Ohio-based Wendy's International Inc., has filed paperwork estimating it will offer 29 million shares in a price range of $18 to $20 a share in its initial public offering. Wendy's will continue to own about 85 percent, or about 160 million shares, of Tim Hortons' common stock after the IPO, according to a filing with the Securities and Exchange Commission. Wendy'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. Under the $20 share-price estimate, the IPO could raise $580 million. Including the shares Wendy's will retain, Hortons would have a market capitalization of as much as $3.8 billion.