filed a registration statement Thursday for a $400 million initial public offering, setting forth plans to go public for the first time as an independent company.
In the filing, the burger chain said it plans to list its shares on the
New York Stock Exchange
under the symbol "BKC." The company said it will use the proceeds from the sale to pay debt.
The filing wasn't a surprise; BK said
earlier this month that it planned to go public. The move comes as Burger King seeks to gain ground over fast-food rivals
The Miami-based Whopper maker has been owned by private equity firms Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners since 2002. The group bought the chain from British spirits company
The filing shed some light on Burger King's finances. For its most recent fiscal year, which ended June 30, the company reported net income of $47 million and revenue of $1.94 billion. For the six months ended Dec. 31, the company had a profit of $49 million, with revenue of $1.02 billion.