Tim Hortons raises range for i.p.o.

by Jeff Gelski
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OAKVILLE, ONT. — Tim Hortons increased the estimated price range for its initial public offering of 29 million shares of common stock to C$25 to C$27 per share ($22 to $24), the company said March 20. The previous range was C$21 to C$23 ($18 to $20).

Tim Hortons Inc. has granted the underwriters the option to purchase up to 4.35 million more shares of common stock at the i.p.o. price less the underwriting discount to cover over-allotments, if any.

A registration statement related to Tim Hortons Inc. securities and filed with the Securities and Exchange Commission has yet to become effective. A preliminary prospectus has been filed with the applicable Canadian regulatory authorities, but a final prospectus has not yet been filed.

The New York Stock Exchange has approved the decision to list Tim Hortons Inc. under the symbol "THI." The Toronto Stock Exchange conditionally has approved the listing of the common stock under the same symbol, "THI."

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