Company: TFI TAB Food Investments
Symbol: TFIG
Description: They are one of the world’s largest global restaurant operators by number of restaurants and the largest Restaurant Brands International, or RBI, franchisee globally.
Underwriter(s): Morgan Stanley, Credit Suisse, Goldman Sachs & Co., Citigroup, J.P. Morgan, Rabo Securities
Shares: 22 million ADS
Price Range: $9.00-$11.00
Trade Date: 2/7
Terms Added: 1-26-18
Business: They operate a broad range of quick service restaurants, or QSRs, mainly in Turkey and China, and their brand portfolio includes some of the most widely recognized QSR brands in the world. Since opening their first location and becoming the exclusive master franchisee of Burger King restaurants in Turkey in 1995, they have become the largest operator of QSRs in Turkey and the only one offering a wide spectrum of restaurant concepts, encompassing hamburger, chicken, sandwich, Italian/pizza and Turkish QSRs.
Financials: Their revenues were TL 1.74 billion, TL 2.29 billion, and TL 2.86 billion and their net loss was TL 110.4 million, TL 153.0 million and TL 254.9 million in 2014, 2015, and 2016, respectively. In the first three quarters of 2017, their revenue increased 42.2% to TL 2.93 billion and their net loss increased 18.1% to $115.5 million.
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