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FOOD SERVICES | Staff Reporter, UK

Turkish Burger King operator pulls US IPO amidst market volatility

TFI Tab Food Investments postponed its planned $220 million initial public offering in New York on February 6.

"TFI will continue to evaluate the timing for the proposed offering as market conditions develop,” the company said in a statement as the recent stock market volatility makes such stock market flotations challenging.

The IPO postponement by TFI, the master franchisee of Burger King in Turkey and China, followed several volatile trading days on Wall Street, which on February 5 saw the biggest one-day drop for the S&P 500 and the Dow in more than six years.

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