globeandmail.com : Tims sold at $27 a share: "The bankers priced the IPO last night at the top end of a previously disclosed range of between $25 and $27 a share. That range was itself increased earlier this week from between $21 and $23."
Industry observers had expected the bulk of the offering would be handed to institutions, but the small amount set aside for regular investors — the people who line up for one of Tim Hortons' signature double-doubles each day — managed to surprise even some bankers working on the deal.
Something tells me this stock will be a GOOG Buy, I mean Good Buy.
"We had institutions saying to us, four months ago, that they would take as much of Tim Hortons as they could get. They hadn't even seen a prospectus, and they wanted it," marvelled a senior executive at one of the dealers.
Of course, this is coming from some sell-side PR agent that doesn't even know how to spell Jim Cramer's real name.
Noted U.S. financial pundits, like CNBC's Jim Kramer, have weighed in on the doughnut maker, counselling investors not to hold on to the stock too long because Tim Hortons lacks a solid platform for growth.
Boo-Ya. Flip a coin Jim.