February 7, 2018 / 12:37 AM / 10 months ago

Turkish Burger King operator pulls U.S. IPO amid market jitters

NEW YORK, Feb 6 (Reuters) - Turkish fast-food chain operator TFI Tab Food Investments postponed its planned $220 million initial public offering (IPO) in New York on Tuesday, according to a source familiar with the situation.

The company confirmed the postponement in a statement very shortly after the news from the source, saying “TFI will continue to evaluate the timing for the proposed offering as market conditions develop.”

The IPO postponement by TFI, the master franchisee of Burger King in Turkey and China, follows several volatile trading days on Wall Street, which on Monday saw the biggest one-day drop for the S&P 500 and the Dow in more than six years. (Reporting by Joshua Franklin; Editing by Chris Reese)

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