Topic: National News
Proving again that McDonald's sucks, Burger King opened their IPO today (Initial Public Offering for people that don't know... like us - ed.) to raise approximately $425 million in capital, which will help pay off their $350 million debt. After that? Shoot, executives are going to Hawaii."Despite Burger King's checkered operational history, lower cash-flow-margin profile and significant debt burden, the company appears to be coming to market at a pretty attractive price if you think it can meet management's expectations for top- and bottom-line growth that exceed projections for the industry," Renaissance Capital said in its featured IPO column.
Mostly you can thank their 500 calorie breakfast sandwiches and 1300 calorie value meals. Perhaps you can also thank their odd advertising campaign and the return of the plastic King. But all we know is this; at $17.55 a share, it's way out of our penny stock price range. We'll just have a Whopper.
AFP
Posted by James
at 2:25 PM CDT
