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Pizza Pizza Royalty units start trading following IPO

July 6, 2005

Canadian Press: Units of Pizza Pizza Royalty Income Fund began trading on the Toronto Stock Exchange July 6, after the company completed its $168.3 million initial public offering.

The income fund's IPO consisted of 16,830,000 units, priced at $10 a piece. The proceeds are expected to be used to indirectly buy the trademarks, trade names and other intellectual property and rights used in the business of Pizza Pizza Ltd., a Toronto-based private company that operates 500 owned and franchised pizza restaurants.

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