News

Restaurant chain Freshii files for initial public offering of shares

TORONTO _ Restaurant chain Freshii Inc. is going ahead with an initial public offering of its shares.

The company says it has filed a preliminary prospectus with securities regulators in Canada for an initial public offering and secondary offering of class A subordinate voting shares.

Freshii says the offering will include a treasury offering by the company and a secondary offering by certain shareholders, including Matthew Corrin, Freshii’s chairman and chief executive.

The number of shares to be sold and the price has not yet been determined.

The offering will be managed by a syndicate of underwriters, led by joint bookrunners CIBC Capital Markets and RBC Capital Markets.

Freshii sells salads, bowls, burritos, wraps, soups, juices, smoothies and frozen yogurt.

The company, which opened its first store in 2005, had 244 stores across 15 countries and in more than 30 states and provinces in North America as of Sept. 25.