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Pizza chain Papa Murphy's shares rise 10 pct in debut
May 2, 2014 / 3:00 PM / 4 years ago

Pizza chain Papa Murphy's shares rise 10 pct in debut

May 2 (Reuters) - 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 offering.

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 Friday. (Reporting by Avik Das in Bangalore)

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