May 2 Papa Murphy's Holdings Inc's
shares rose as much as 10 percent in their debut, valuing the
take-and-bake pizza chain operator at about $205 million.
The initial public offering of 5.83 million shares raised
about $64.1 million after it was priced at $11, the lower end of
its expected price range.
Lee Equity Partners LLC, owned by billionaire investor
Thomas Lee, will remain the biggest shareholder in the company
with a 40.5 percent stake. The private equity firm, which
acquired Papa Murphy's in 2010, owned about 62 percent before
The company's shares opened at a high of $12.10 but lost
some of their early gains to trade at $11.49 on the Nasdaq on
(Reporting by Avik Das in Bangalore)