Zoe's Kitchen Shares Jump More Than 70 Pct In Market Debut

Features 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.

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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.