CKE Files for IPOThursday, May 17, 2012
Fast-food restaurant operator CKE Inc., which was taken private nearly two years ago, has filed with U.S. regulators to raise up to $100 million in an initial public offering.
The Carpinteria owner of the Carl's Jr and Hardees fast food chains did not disclose the number of shares to be sold nor their expected price. Underwriters also were not named in the S-1 filing made with the U.S. Securities and Exchange Commission.
CKE was taken private by Apollo Management in July 2010 in a $694 million deal. The company said in latest filing that shares in the IPO would be offered both by the company and its principal shareholder, CH Restaurant Holdings LLC.
CKE, through its subsidiaries, has 3,243 franchised or company-operated restaurants, operating in 42 states and 25 foreign countries. The company last year reported a loss of $19.3 million on revenue of $1.28 billion, which included $98.1 million in interest expense paid during the year.
CKE plans to list its stock on the New York Stock Exchange under the symbol “CK.”