The parent of Newport Beach-based upscale steakhouse Fleming’s Prime Steakhouse & Wine Bar is looking to raise as much as $321 million in an initial public offering on Wednesday.

Tampa, Fla.-based Bloomin’ Brands Inc. plans to sell 21.4 million shares priced between $13 and $15.

The company operates four restaurant chains, with its largest the Australian-themed Outback Steakhouse.

Fleming’s totals more than 60 restaurants in 28 states.

Bloomin’ also owns a 50% stake in Newport Beach-based upscale Hawaiian fusion restaurant chain Roy’s, which totals 22 restaurants in eight states.

Bloomin’, with more than 1,400 restaurants under its fold, had revenue of $3.8 billion last year and $100 million in net income.

The restaurant operator is owned by Boston-based private investment firm Bain Capital LLC and Greenwich, Conn. private equity firm Catterton Management Company LLC.

Bloomin’ is one of two restaurant operators counting Orange County ties whose IPO is expected to begin trading this week.

The other is Carpinteria-based CKE Restaurants Inc., operator of the Carl’s Jr. and Hardee’s fast-food burger chains.

CKE, which was originally based in Anaheim and still has operations there, hopes to sell 13.3 million shares priced between $14 and $16 per share.

The company’s portfolio totals 3,263 company-owned and franchised restaurants.

CKE’s IPO is expected to begin trading on Friday.