Burger King in $500 Million IPO
May 23, 2006
May 23, 2006 - Cleary Gottlieb advised the underwriters, led by JP Morgan, Citigroup, Goldman Sachs & Co. and Morgan Stanley in Burger King Holdings, Inc.’s initial public offering of 25 million shares of common stock. The transaction, the largest restaurant IPO in history, priced on May 17 and closed on May 23. The underwriters exercised their “green shoe” option to purchase an additional 3.75 million shares from Burger King’s financial sponsors on May 19.
Burger King is the world’s second largest fast food hamburger restaurant chain, with 11,109 restaurants in 65 countries. Burger King’s common stock trades on the New York Stock Exchange.