Industry News | May 18, 2012 |
Owner of Carl’s Jr., Hardee’s Plans $100 Million IPO
CKE Inc., owner of the Carl’s Jr. and Hardee’s brands, has plans to go public again. The company filed paperwork with the Securities and Exchange Commission on Thursday, May 17, seeking to raise an estimated $100 million IPO.
CKE Inc. plans to use the IPO proceeds to repay debts and for other unnamed corporate purposes, according to a statement released by the company. The company suffered a $19.3 million loss in the fiscal year ending January 2012.
This will be the second time CKE Inc. goes public. Its first venture was in 1981. In 2010, the company was taken private after being bought out by private-equity firm Apollo Mangement.
This time, CKE Inc. plans to file itself under the ticker “CK” on the New York Stock Exchange.
By Sonya Chudgar
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