Topics

Arable Farming
Potbelly IPO: Shares up as much as 141% in $105-million debut
Potbelly IPO: Shares up as much as 141% in $105-million debut

Investors keep gobbling up food IPOs, with Potbelly Corp. surging as much as 141% in its market debut Friday, even after pricing above expectations. In its $105-million initial public offering, the Chicago sandwich chain and its shareholders sold 7.5 million shares at $14 apiece, above their expected range of $12 to $13. The stock, trading under the PBPB ticker on the Nasdaq exchange, opened at $28.79 on Friday. By early afternoon in New York, it was up nearly 128%, or $17.85, to $31.85 a share. The interest in Potbelly mirrors several other food-focused public debuts recently. Noodles & Co. and Sprouts Farmers Markets Inc. this year, and organic food company Annie’s Inc....

Loading