Burger King purse: Richest IPO ever
February 16, 2006
NEW YORK — Burger King's $400 million purse ranks as the richest U.S. restaurant IPO ever as the maker of the Whopper touts a turnaround story to prospective investors.
The world's No. 2 burger chain late Feb. 16 filed its initial public offering, with its stock market debut likely within the next one to six months.
With maximum proceeds of $400 million, the IPO would top the $391 million raised by Domino's Pizza in 2004.
Burger King, which owns or franchises 11,141 restaurants in 67 countries, holds a commanding mindshare in the $50 billion U.S. fast food hamburger restaurant category, which is expected to grow by 4.2 percent over the next five years, according to a MarketWatch report.
