Burger King, the world's second largest fast-food hamburger chain, priced its 25.0 million share offering at $17 a piece, the high end of its $15-$17 range. The company operates 11,109 restaurants throughout the world, of which 89% are franchised. At the $17 offer price, the company will have an initial market capitalization of $2.3 billion ($3.5 billion including net debt). JPMorgan, Citigroup, Goldman Sachs and Morgan Stanley topped the long list of underwriters on the deal. The deal is expected to open for trading on Wednesday on the NYSE under the symbol "BKC".
