nuklear
03-24-2006, 11:16 AM
You ever had a tim hortons Large Double Double you know why this is such a big deal
http://www.cbc.ca/story/business/national/2006/03/24/Tim-Hortons060324.html
Tim Hortons finally opened up public trading today
rading in Tim Hortons shares got off to a brisk start Friday as lucky investors in the chain's initial public offering made windfall profits of up to $11 a share.
The first-ever share offering by the popular coffee and doughnut empire was priced at $27. But when trading opened on the TSX, the shares began trading north of $36 and went as high as $37.99 before sliding back to $35 by 10 a.m. EST.
The public gallery at the TSX was needed to accommodate the crowd at Tim's opening ceremony (CBC photo).
Shares also began trading on the New York Stock Exchange, where similar gains were seen.
Underwriters allocated 60 per cent of the shares for Canadian investors, but large institutional investors snapped up the majority of those shares.
Tim Hortons will raise $780 million through its initial public offering. The company said it will use money to pay off debt owed to its parent company, Wendy's International Inc.
* INDEPTH:: IPOs
Wendy's, an American fast-food giant based in Ohio, will retain its majority ownership in the chain but it has indicated it plans to sell its remaining stake in the company by the end of the year.
However, analysts say the chain may not have the same growth potential in the United States as it does in Canada, where it enjoys a near-religious following among some coffee drinkers.
It has closed stores in New England and slowed down its plans for expansion in the U.S. more than once.
Tim Hortons has more than 2,500 outlets across Canada, including 660 smaller restaurants in non-standard locations, such as gas station convenience stores, universities, hospitals and office buildings.
It has said its long-term goal is to have between 3,500 and 4,000 restaurants in Canada.
In the U.S., the company has 272 restaurants in 10 states, primarily in the Northeast and Midwest. The company said its goal is to have 500 restaurants open in the U.S. by the end of 2008.
http://www.cbc.ca/story/business/national/2006/03/24/Tim-Hortons060324.html
Tim Hortons finally opened up public trading today
rading in Tim Hortons shares got off to a brisk start Friday as lucky investors in the chain's initial public offering made windfall profits of up to $11 a share.
The first-ever share offering by the popular coffee and doughnut empire was priced at $27. But when trading opened on the TSX, the shares began trading north of $36 and went as high as $37.99 before sliding back to $35 by 10 a.m. EST.
The public gallery at the TSX was needed to accommodate the crowd at Tim's opening ceremony (CBC photo).
Shares also began trading on the New York Stock Exchange, where similar gains were seen.
Underwriters allocated 60 per cent of the shares for Canadian investors, but large institutional investors snapped up the majority of those shares.
Tim Hortons will raise $780 million through its initial public offering. The company said it will use money to pay off debt owed to its parent company, Wendy's International Inc.
* INDEPTH:: IPOs
Wendy's, an American fast-food giant based in Ohio, will retain its majority ownership in the chain but it has indicated it plans to sell its remaining stake in the company by the end of the year.
However, analysts say the chain may not have the same growth potential in the United States as it does in Canada, where it enjoys a near-religious following among some coffee drinkers.
It has closed stores in New England and slowed down its plans for expansion in the U.S. more than once.
Tim Hortons has more than 2,500 outlets across Canada, including 660 smaller restaurants in non-standard locations, such as gas station convenience stores, universities, hospitals and office buildings.
It has said its long-term goal is to have between 3,500 and 4,000 restaurants in Canada.
In the U.S., the company has 272 restaurants in 10 states, primarily in the Northeast and Midwest. The company said its goal is to have 500 restaurants open in the U.S. by the end of 2008.