TV Buff wrote: Did any of you invest? They are not available to regular citizens like us normally that kind of HOT stock goes to mutual funds or pension plans or Big Investors. But If Pancho cachondo try to get some is going to be almost impossible.
speak for yourself punk....
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Roses are red violets are korny, when I think of you Ohh baby I get horny...
They are not available to regular citizens like us, normally that kind of HOT stocks go to mutual funds, pension plans or Big Investors. But If Pancho cachondo try to get some is going to be almost impossible.
They have secure them instead to put them on hands of an average Pancho.
Shares in Tim Hortons Inc. up 40% to hit almost $38 in early trading after IPO
1 hour, 39 minutes ago
TORONTO (CP) - Shares in Tim Hortons Inc. (TSX:THI) made a huge splash as expected Friday, moving up more than 40 per cent to peak at almost $38 in morning trading after the popular coffee-shop chain's highly promoted initial public stock offering.
The Oakville, Ont.-based company, which will remain majority owned by U.S. fast-food giant Wendy's International Inc. (NYSE:WEN), said its underwriters were allocating about 60 per cent of the shares for Canadian investors.
CEO Paul House said he expects that to increase over time.
About one-quarter of the shares were allotted to retail investors - 80 per cent of that to Canadians - with the remaining three-quarters going to institutional investors.
As for those who haven't been able to get in on the initial trading, House noted that most of the company is still in Wendy's hands but will be spun off later this year.
"There will be a second spin coming," he said at the Toronto Stock Exchange, which he added would make a good location for a new Tim Hortons outlet.
Asked whether Tim's is reaching its saturation point in Canada, the CEO said there are plenty of opportunities left, including further growth in Quebec.
On the Toronto stock market Friday morning, the shares were trading at $35.64 with more than eight million trading hands - backing off an earlier high of $37.99. The IPO had initially been priced at $27 a share and opened trading at $36.21.
At $27 a share, the iconic coffee and doughnut chain was poised to raise about $780 million, not including the 4.35 million additional shares the company has granted its underwriters the option to buy.
The price tag - up from an initial range of $21 to $23 a share - values Tim Hortons at about $4.35 billion, or 11 to 12 times earnings before interest, taxes, depreciation and amortization.
Ohio-based Wendy's International, which plans to spin off its remaining 82 to 85 per cent stake in the coffee chain this year, called the offering "the first step" to unlocking the value of Tim Hortons.
The shares are also trading on the New York Stock Exchange.
Founded by the late Toronto Maple Leafs defenceman Tim Horton and Ron Joyce, a former Hamilton police officer and franchisee of the first Tim Hortons store, the chain was bought by Wendy's in 1995 in a deal worth $580 million.
At the time, the private company had 1,180 Canadian locations and 17 in the United States, and reported sales in 1994 of $600 million. In 2005, Tim Hortons earned a profit of $191.1 million on sales of $1.48 billion.
Wendy's shares, meanwhile, sank $1.59, 2.45 per cent, to $63.42 US on the New York Stock Exchange early Friday.
Tim Horton's daughter, Jeri Horton Joyce, said she nearly started crying as the shares began trading. She owns an outlet in Cobourg, Ont.
One major task facing House is growing the chain's re****tion south of the border. "The biggest challenge is to make sure that everyone has patience," he said.
House said Tim Hortons doesn't plan to expand to Florida, despite the large number of Canadians in the state. The chain is sticking to its plan to focus its U.S. expansion in the northeast.
House said that area provides sufficient opportunities, noting that the American population is 10 times that of Canada.
But Tim's isn't making any changes to its Canadian strategy as it continues to open new stores south of the border.
"It's absolutely the same business plan," House said, noting that Americans are "rolling up the rim" too, a reference to one of the firm's sales promotions.
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Dios nos conceda SERENIDAD para aceptar las cosas que no podemos cambiar, VALOR para cambiar las que podemos, y SABIDURIA para conocer la diferencia.
Roses are red violets are korny, when I think of you Ohh baby I get horny...
"Most of us fall short much more by omission than by commission."
