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The news of initial public offerings to come trumped that generated by those IPOs that actually occurred during 2005.
While three restaurant companies floated stock this year - Ruth's Chris Steakhouse Inc., Kona Grill Inc. and Caribou Coffee Co. Inc. - the news that quick-service giants McDonald's Corp. and Wendy's International Inc. would hold long-awaited stock offerings of their secondary brands, Chipotle and Tim Hortons, stole most headlines. Still, the public market remained active, signaling a healthy appetite among investors for restaurant securities.
Denver-based Chipotle Mexican Grill Inc., which is owned by McDonald's of Oak Brook, Ill., filed registration papers with the U.S. Securities and Exchange Commission in October to sell as much as $100 million in common stock. Chipotle applied to trade its shares on the New York Stock Exchange under the symbol "CMG," and shares could begin trading as early as the first quarter of next year.
The 450-unit burrito chain has yet to file how many shares would be offered, an estimated price range for shares, or what stake McDonald's would hold after the sale. Currently, McDonald's owns about 92 percent of the fast-casual chain.
Similarly, Wendy's Tim Hortons doughnut chain, which has 2,800 shops in Canada and the United...