July 25, 2014 / 2:35 PM / 3 years ago

El Pollo Loco shares rise 32 pct in debut

1 Min Read

July 25 (Reuters) - Shares of El Pollo Loco Holdings Inc rose as much as 32 percent in their trading debut, valuing the restaurant chain at more than $700 million.

Shares of the restaurant, known for its fire-grilled chicken, rose to $19.84 in morning trading on Friday on the Nasdaq.

The company raised $107.1 million after its initial public offering of 7.1 million shares were priced at $15 each, at the higher end of the range. All the shares in the IPO were offered by the company.

Private equity firms Trimaran Capital Partners LLC and Freeman Spogli & Co owned the entire company through Trimaran Pollo Partners LLC prior to the offering. Their stake fell to 80 percent after the IPO. (Reporting by Amrutha Gayathri in Bangalore; Editing by Savio D'Souza)

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