Wingstop, a fast casual chicken wing-focused restaurant chain with 745 locations, raised $110 million by offering 5.8 million shares at $19, above the upwardly revised range of $16 to $18.
Wingstop first planned to offer shares at a range of $12 to $14, making its $19 offer price the year's largest pricing premium (+46%) to the original midpoint
Last week's consumer IPO, DAVIDsTEA (DTEA), priced above the range and traded up 42% on its first day. Bojangles' (BOJA) was the last restaurant IPO; it also priced above the range and traded up 25% on its debut. The year's all-star IPO, however, remains Shake Shak (SHAK), which soared 119% on the first day and is now up 250% above its offer price.
Wingstop plans to list on the NASDAQ under the symbol WING. Morgan Stanley, Jefferies, Baird, Goldman Sachs, Barclays and Wells Fargo Securities acted as lead managers on the deal.
