Burger King is returning Wednesday to the New York Stock Exchange, but it won’t be through an initial public offering.
Instead, owner 3G Capital in April announced a complex deal to sell a 29 percent stake in the chain to Justice Holdings, a London-based entity that was specifically set up to invest in another company. 3G Capital received $1.4 billion in exchange and retains a 71 percent stake in the company.
Under the deal, Justice was to suspend trading on the London Stock Exchange once the deal was complete and emerge as Burger King Worldwide Inc. trading under the ticker “BKW” on the New York Stock Exchange.
Here’s a breakdown of how Burger King shares are spread:
—3G Capital will retain its 71 percent of Burger King’s stock for at least six months.
—Justice founders will hold 13 percent of Burger King’s stock and will not sell any of those shares for at least one year.
—The remaining 16 percent of shares will be available to retail investors.
