TFI Tab Food Investments Launches Initial Public Offering
January 26 2018 - 9:02AM
TFI Tab Food Investments (“TFI”) today announced that it has
commenced an initial public offering of 22,000,000 American
Depositary Shares (“ADSs”), with each ADS representing 12 ordinary
shares, including 4,500,000 ADSs to be sold by the Company and
17,500,000 ADSs to be sold by certain existing shareholders. The
underwriters will have an option to purchase up to an additional
3,300,000 ADSs from certain existing shareholders. The Company will
use the net proceeds it receives to repay a portion of outstanding
indebtedness and will not receive any proceeds from the ADSs sold
by the selling shareholders. The price range for the initial public
offering is currently estimated to be between $9.00 and $11.00 per
share. The Company has applied to list its ADSs on the Nasdaq
Global Select Market under the symbol “TFIG”.
Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC
and Goldman Sachs & Co. LLC, are acting as bookrunning managers
and representatives of the underwriters for the proposed offering.
Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are
acting as bookrunners for the proposed offering. Rabo Securities
U.S.A., Inc. is acting as a co-manager for the proposed
offering.
The offering will be made only by means of a prospectus. When
available, copies of the preliminary prospectus relating to the
offering of these securities may be obtained from:
Morgan Stanley & Co. LLC, Attention: Prospectus Department,
180 Varick Street, 2nd Floor, New York, NY 10014; Credit Suisse
Securities (USA) LLC, Attn: Prospectus Department, One Madison
Avenue, New York, NY 10010, telephone: 1-800-221-1037 or by
emailing newyork.prospectus@credit-suisse.com; or Goldman Sachs
& Co. LLC, Prospectus Department, 200 West Street, New York, NY
10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by
emailing prospectus-ny@ny.email.gs.com.
A registration statement relating to these securities has been
filed with the U.S. Securities and Exchange Commission but has not
yet become effective. These securities may not be sold, nor may
offers to buy be accepted, prior to the time the registration
statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About TFI TFI Tab Food Investments, Inc. is one
of the world’s largest global restaurant operators by number of
restaurants, with over 1,800 restaurants and more than 30,000
employees. During its 22-year history, TFI has grown its portfolio
to include a broad range of quick service restaurants, or QSRs,
mainly in Turkey and China. Its brand portfolio includes some of
the most widely-recognized QSR brands in the world, including
Burger King®, Popeyes®, Sbarro®, and Arby’s®, as well as its own
brand, Usta Dönerci®.
For media inquiries, please contact:
In Turkey
V Emir IŞIKTFI Tab Food Investments+90 212 310
4899isik.emir@tabfoods.com
In the U.S.
Richard Jacques / Patricia GraueBrunswick Group+1 212 333
3810TFI@brunswickgroup.com
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