NEW YORK — The New York Stock Exchange is once again the home of the Whopper.
Burger King Worldwide began trading as a public company Wednesday under the ticker symbol “BKW.” Its shares closed up 3.5 percent at $15.01. The world’s No. 2 hamburger chain had last traded as a public company between 2006 and 2010 before it was purchased and taken private by investment firm 3G Capital.
Burger King’s return to the Big Board wasn’t through an initial public offering, however. 3G Capital announced an unusual deal in April to sell a minority stake to Justice Holdings, a London-based entity that was specifically set up to invest in another company. 3G Capital received $1.4 billion in exchange and retains a 71 percent stake in the company.
Only 16 percent of shares were available for sale to investors. The founders of Justice Holdings will hold onto their 13 percent of shares for at least a year as part of the deal. 3G Capital will hold onto its stake for at least six months. The Associated Press
