IHOP PLANS NYSE MOVE, SUNNY SIDE UP.Byline: Dave McNary Staff Writer IHOP IHOP International House Of Pancakes (restaurant chain) iHOP Information Hyperlinked Over Proteins IHOP International House of Prayer IHOP International H2O Project IHOP International House of Pain Corp., on track to top $1.1 billion in sales this year, hopes to stack up with the big boys on Wall Street. The Glendale-based chain of International House of Pancakes restaurants announced Thursday that it has filed an application to be listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , forsaking Nasdaq and exchanging its ``IHOP'' ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors for ``IHP ihp or i.hp. abbr. indicated horsepower .'' The company - with 640 franchise outlets, 148 licensed and 76 company-operated sites as of June 30 - expects its 20 million publicly held shares to be listed in mid-September. Mark Weisberger, vice president and general counsel, said the NYSE NYSE See: New York Stock Exchange has given the application preliminary approval. ``Final approval is not just a formality but we have a good deal of comfort that it will be approved,'' he said. IHOP said a NYSE listing will provide greater liquidity, reduced volatility, tighter quotation spreads and a larger worldwide market. The company's first restaurant opened in 1958 in Toluca Lake and the company went public in 1991. IHOP specializes in moderate prices at casual locales. |
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