Carl's Jr. Parent Holds Off on IPOFriday, August 10, 2012
Carpinteria-based CKE Restaurants Inc. postponed its initial public offering expected Friday, citing “market conditions.”
CKE, which was originally based in Anaheim and continues to have operations there, counts 3,263 company-owned and franchised Carl's Jr. and Hardee's fast-food burger restaurants.
The company originally hoped to sell 13.3 million shares priced between $14 and $16 per share, raising about $200 million.
CKE’s IPO would have been the second by a restaurant operator this week.
Tampa, Fla.-based Bloomin' Brands Inc.’s $176 million IPO began trading Wednesday, in an offering much smaller than the company initially planned.