OAKVILLE, Ontario—Tim Hortons Inc. announced that it has increased the estimated price range for its initial public offering of 29 million shares of common stock to C$25 to C$27 per share, resulting in an approximate U.S. range of U.S.$22 to U.S.$24 per share. The previous price range, filed in the company's Canadian preliminary prospectus dated March 3, 2006 and U.S. preliminary prospectus dated March 13 was C$21 to C$23 per share and U.S.$18 to U.S.$20 per share.
The company has granted the underwriters the option to purchase up to an additional 4.35 million shares of common stock from Tim Hortons at the initial public offering price less the underwriting discount to cover over-allotments.
The Toronto Stock Exchange (TSX) has conditionally approved the listing of the Company's common stock under the symbol "THI." The Company has been approved to list on the New York Stock Exchange under the symbol "THI."
