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Resonate your identity with Naseeb journals. Express your opinions, share your thoughts, post your writings and connect with like minded people through the power of expression.
Resonate your identity with Naseeb journals. Express your opinions, share your thoughts, post your writings and connect with like minded people through the power of expression.
Coffee Drinkers - IPO
A better option for coffee than Starbucks is Minnesota based Caribou Coffee.
Why you ask?
Because they are Shariah compliant.
Caribou won't sell pork, beer or lottery tickets
July 25, 2005
Minneapolis StarTribune
Porn, pork and Pabst -- you're safe from them at Caribou Coffee. In an SEC filing last week for its initial stock offering, the Brooklyn Center-based coffeehouse chain noted that it operates its business according to the Islamic principles known as Shari'ah.
"A Shari'ah-compliant company is prohibited from engaging in derivative hedging transactions such as interest rate swaps or futures, forward options or other instruments designed to hedge against changes in interest rates or the price of commodities we purchase," Caribou said in its filing. "Also, a Shari'ah-compliant company is prohibited from dealing in the areas of alcohol, gambling, pornography, pork and pork-related products."
Atlanta-based Arcapita Inc. owns 84 percent of Caribou. Arcapita is the U.S. private-equity arm of Arcapita Bank B.S.C., a Bahrainian investment group.
Why you ask?
Because they are Shariah compliant.
Caribou won't sell pork, beer or lottery tickets
July 25, 2005
Minneapolis StarTribune
Porn, pork and Pabst -- you're safe from them at Caribou Coffee. In an SEC filing last week for its initial stock offering, the Brooklyn Center-based coffeehouse chain noted that it operates its business according to the Islamic principles known as Shari'ah.
"A Shari'ah-compliant company is prohibited from engaging in derivative hedging transactions such as interest rate swaps or futures, forward options or other instruments designed to hedge against changes in interest rates or the price of commodities we purchase," Caribou said in its filing. "Also, a Shari'ah-compliant company is prohibited from dealing in the areas of alcohol, gambling, pornography, pork and pork-related products."
Atlanta-based Arcapita Inc. owns 84 percent of Caribou. Arcapita is the U.S. private-equity arm of Arcapita Bank B.S.C., a Bahrainian investment group.
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Caribou Coffee nears IPO; goes bean to bean with SBUX
September 06, 2005 12:27:29 (ET)
NEW YORK (MarketWatch) - Caribou Coffee Co. on Tuesday moved closer to its initial public offering and joined a growing list of consumer-flavored IPOs.
On Tuesday, Caribou Coffee said it plans to offer 5.36 million shares at $13 to $15 each to raise about $75 million.
The Brooklyn Center, Minn., company plans to trade under the ticker CBOU on Nasdaq. Merrill Lynch and Thomas Weisel lead the underwriters.
Caribou Coffee amounts to a David fighting the Starbucks (SBUX, Trade) Goliath.
As of July 31, Caribou counted 337 coffeehouses in 14 states, with its biggest presence in Minnesota, Illinois, Michigan, and Ohio. At the end of August, Starbucks operated nearly 10,000 outlets worldwide.
Caribou Coffee offers mountain lodge décor, and its employees handle customers "with a smile and a bid farewill with an unforgettable drink," according to the company's IPO filing.
In the first half of 2005, Caribou's loss widened to $3.1 million from $2 million in the year-earlier period. Revenue climbed 27% to $93 million from $73 million.
Arcapita Investment Management Ltd. owns about 84% of Caribou.
Arcapita, which acquired the stake in December 2000, operates out of three offices in Bahrain, Atlanta and London.