Restaurant Brands raises $94 million for Hawaiian business in fully subscribed share offer

Sun, 20 Nov 2016

By Tina Morrison Nov. 21 (BusinessDesk) - Restaurant Brands NZ successfully raised $94 million through a sale of shares to investors, helping fund its planned purchase of Pacific Island Restaurants, the largest fast-food operator in Hawaii with 82 Taco Bell and Pizza Hut stores. The Auckland-based company raised $52 million from institutions and $42 million from retail investors through the offer of one new share at $4.70 apiece for every 5.15 shares already owned, it said in a statement. As the offer was fully subscribed, no new shares w...

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