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Zoe's Kitchen shares jump more than 70 pct in market debut
April 11, 2014 / 2:09 PM / in 4 years

Zoe's Kitchen shares jump more than 70 pct in market debut

April 11 (Reuters) - Shares of Zoe’s Kitchen Inc rose as much as 73 percent in their market debut, valuing the casual dining restaurant chain at more than $475 million.

Zoe’s Kitchen raised about $87.5 million from the offering, after its initial public offering of 5.83 million shares was priced at the upper-end of the expected price range.

The company, which is backed by private equity firm Brentwood Associates, sold all the shares in the offering.

Zoe’s shares opened at $25.65 and touched a high of $25.90 on the New York Stock Exchange on Friday.

Jefferies and Piper Jaffray were lead underwriters to the offering. (Reporting By Neha Dimri in Bangalore; Editing by Savio D‘Souza)

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