Arcos Dorados may raise about $1.08 billion from an initial public offering. The Buenos Aires-based operator of McDonald’s will offer 12.4 million class A shares and shareholders will offer 50 million class A shares at a price of $13-15 per share. An additional 9.4 million shares may be sold by the underwriters in case of over-allotments, adds Bloomberg. Arcos Dorados will use $150 million of the proceeds for capital expenditures, including opening and reimaging restaurants. BofA Merrill Lynch, JP Morgan, Morgan Stanley, Itau BBA and Citi are acting as joint bookrunners for the IPO.
Click here for the release from PR Newswire.
Click here for the additional coverage from Bloomberg.