001259 Popeyes, Cinnabon Franchiser AFC Files IPODecember 23, 2000Washington - AFC Enterprises Inc., which operates and franchises quick- service restaurants, bakeries and cafes like Popeyes Chicken & Biscuits, Church's Chicken and Cinnabon, filed on Friday to go public. AFC is looking to raise $100 million in an initial public offering of common stock, using the net proceeds to repay outstanding bank debt and for general corporate purposes, it said in a filing with the Securities and Exchange Commission. The Atlanta-based company will reveal later how many shares it plans to sell and the price range. It has applied for a Nasdaq listing under the symbol “AFCE” and hired underwriters Goldman Sachs and Credit Suisse First Boston. Freeman Spogli & Co., a private equity investment firm, holds a 53.8% stake in AFC, according to the filing.
E-mail: sflanagan@sprintmail.com |
