Carl’s Jr., Hardee’s owner CKE files for $100-million IPO
Carl’s Jr. and Hardee’s owner CKE Inc. filed Thursday to raise an estimated $100 million in an initial public stock offering.
In a registration statement with the Securities and Exchange Commission, the Carpinteria, Calif., company said it has yet to determine the size of the offering and the estimated price range.
CKE, which had more than 3,000 fast-food restaurants across the country and abroad as of Jan. 31, said it will apply to list its common stock under the CK ticker symbol on the New York Stock Exchange.
CKE was taken private in 2010, when it was bought by private-equity firm Apollo Management for nearly $700 million. The fast-food company was started in the 1940s by entrepreneur Carl Karcher.
Proceeds from the IPO will be used to repay debts and for other corporate purposes, the company said in a statement.
In its last fiscal year, CKE suffered a $19.3 million net loss while revenue slipped 3.9% to $1.3 billion.
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