Finance History | 11 Wall Street — Twenty-Two Fifty for Three Hundred Thousand Burger Shares
· 1965-4
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Finance History | 11 Wall Street — Twenty-Two Fifty for Three Hundred Thousand Burger Shares
kevin
People treat McDonald's as a Chicago restaurant house that always printed MCD after a finished New York book.
The 1965 issuer was McDonald's Corporation, the franchisor built from the San Bernardino self-service stands.
A New York Times market note dated 21 April 1965 recorded an offering of 300,000 common shares priced at 22.50 U.S. dollars a share in 1965 dollars.
The same account said the issue jumped a six-point premium and closed at 31 bid and 31.50 offered in 1965 dollars, a gain the paper put at eight and a half points.
That first session was handled in the over-the-counter market, not on this floor.
The company's investor page dates the initial public offering to 21 April 1965 and lists twelve later splits on the surviving common.
The mechanism is a small cash IPO that later took a Big Board tape under MCD.
The pin is the public Broad Street facade of the 1903 New York Stock Exchange building, the street marker for the tape that later printed MCD.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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