The Burger King chain will be filling for an IPO, reports the Associated Press. The move is part of the company's efforts to regain ground lost to other burger chains, McDonald's and Wendy's.

The offering is expected to being in February or March. "Our goal has always been to take Burger King public," Chairman Greg Brenneman said in a statement. "We believe the transparency and stability in ownership offered by being a public company will benefit our employees and franchisees for years to come."

BK ran second behind the Golden Arches for many years, but in 2004 fell into a tie with Wendy's, reports research firm Technomic. The firm is being sold by the private equity companies that bought it in 2002 for $1.5 billion when sales were really slumping.