Arcos Dorados Holdings has raised $1.25 billion in an initial public offering (IPO), Bloomberg reports. The Buenos Aires-based McDonald’s operator has sold a total of 73.5 million shares at $17 per unit. Bank of America, JPMorgan Chase, Morgan Stanley, Citigroup and Itau Unibanco Holding led the sale. Arcos Dorados will list the shares on the New York Stock Exchange.

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