Burger King's shares rise after PE owners sell stock

Date: Thursday, May 18, 2006
Author: Hedgeweek.com

Shares of Burger King Holdings Inc, the second-largest US hamburger chain, rose after a USD 425 million initial public offering allowed its private-equity owners to cash in on surging demand for stock in fast-food companies. The shares climbed 64 cents, or 3.8 per cent, to USD 17.64 at 11:14 am in New York Stock Exchange composite trading. The Miami-based company said in an e-mailed statement yesterday it sold 25 million shares at USD 17 each. The stock, representing 19 per cent of the company, is listed under the symbol BKC.