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February 28, 2006

Tim Hortons to offer shares at $18 to $20 in IPO

Canadian coffee and doughnut chain Tim Hortons Inc., which bought Rhode Island's Bess Eaton Donut Flour Co in 2004, filed paperwork estimating it will offer 29 million shares in a price range of $18 to $20 per share in its upcoming initial public offering.

Wendy's, based in Dublin, Ohio, will continue to own about 85 percent, or around 160 million shares, of Tim Hortons' common stock after the IPO.

Tim Hortons has stores located primarily in Rhode Island, New York, Michigan, Ohio and Connecticut.

-- The Associated Press

Posted by Jack Perry  at 10:32 AM | Permalink