03-16-2006, 07:03 PM
Keyser Soze Wrote:fake ass mexican chains, chipolte is run by mcdonalds....mission burrito is where its at.
incorrect. Mickey Ds funded their franchise run, and made a profit by it. But has no correlation to the food.
Source: Wikipedia
The first restaurant started in Colorado, near the University of Denver, and restaurants have since opened throughout the U.S.. In 1997 McDonald's made an initial minority investment in the franchise. By 1999 it had grown to a controlling interest, and by 2005 it was 92%. The McDonald's connection allowed the firm to quickly expand, from 14 restaurants in 1998 to 480 at the end of 2005.
On October 25, 2005 Chipotle initially filed for its IPO. On December 23, 2005 in an updated filing Chipotle indicated the size of the offering would be approximately 6.3 million shares with a price of $15.50 to $17.50 per share. The price range was increased to $18.00 to $20.00 per share on Januray 23, 2006, an indication that the demand for the offering was strong. Morgan Stanley and SG Cowen led the offering. The public offering priced on January 25, 2006 at a price of $22 per share. The offering raised approximately $133MM in primary capital to fund new store growth. McDonald's sold $66MM, including the 15% greenshoe, which was exercised in full. On its first day as a public company, Chipotle stock rose exactly 100%, closing at $44.00/share.
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