Hispanically Speaking News:
Latin American McDonald’s franchisee Arcos Dorados Holdings Inc. has filed for an initial public offering (IPO) on the New York Stock Exchange Friday, in the regulatory filing, Arcos said it will be offering nearly 12.5 million class A shares. Selling shareholders will also be offering another 50 million class A’s as well.
The IPO price is expected to be between $13 and $15, and could raise as much as $937 million from their sale.
In the filing, the Buenos Aires-based company said it estimates that $150 million will be reinvested, with new restaurants being opened and others renovated.