Burger King to raise up to $425M in IPO
Fast food chain's market capitalization estimated at $2.1B, according to terms of offering.

NEW YORK (CNNMoney.com) - Burger King expects to raise around $375 million to $425 million through its initial public offering, according to a SEC filing the company made Tuesday.

The company expects to sell about 25 million shares at an estimated price between $15 and $17 a share. Some of that money will go to underwriters.

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If the IPO prices at the midpoint of the expected range, Burger King would have a market capitalization of about $2.1 billion, according to share information included in the filing.

Miami, Fla.-based Burger King said it will use the money raised to pay back loans and that it doesn't expect much of it to be invested in its business.

Private-equity funds controlled by Texas Pacific Group, Bain Capital Partners and the Goldman Sachs Funds will be controlling shareholders of the company after it goes public.

The company has proposed to list on the New York Stock Exchange under the ticker "BKC."

According to Burger King's own estimates, it is the world's No. 2 fast food hamburger chain by number of restaurants and sales.

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.