- March 27, 2024
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TAMPA — The parent company of Outback Steakhouse, Tampa-based Bloomin' Brands, leads the menu of six companies seeking big payoffs by going public this week.
Bloomin' Brands is one of two initial public offerings scheduled for the week with a Gulf Coast connection. The other is Manchester United Ltd., the famed English soccer club and well-known global sports brand owned by the Glazer family, which also owns the Tampa Bay Buccaneers.
Manchester, founded in 1878, posted $543 million in sales over the past year, according to Renaissance Capital, an IPO news and research firm. The company hopes to raise $300 million by offering 16.7 million shares priced from $16 to $20 a share. It will be listed on the New York Stock Exchange under the symbol MANU.
Bloomin' Brands also seeks $300 million in its initial public offering, according to Renaissance Capital. The company, which owns Carrabba's Italian Grill and Bonefish Grill, in addition to Outback, had $3.9 billion in sales over the last year. It plans to offer 21.4 million shares, priced from $13 to $15 a share, which could give the company a market value of at least $1.7 billion.
The company was founded in 1987, and was previously traded publicly under the name OSI Restaurant Partners Inc. A group of private equity firms, led by Bain Capital, bought OSI in 2007 and took the business private. The new version of the company, under the Bloomin' Brands name, could go public by Wednesday. It will be listed on the Nasdaq under the symbol BLMN.
Other companies that plan to go public this week include a semiconductor firm, a financial business and a biotech operation, Renaissance Capital reports. CKE, parent of fast-food chains Carl's Jr. and Hardee's, also plans a public offering.