Brazilian Steakhouse Fogo De Chao Shares Surge 25% On Their First Day Of Trade

By Ciara LinnaneMarketWatch Pulse

Shares of Brazilian steakhouse chain Fogo de Chao surged about 25% Friday on their first day of trade, after the company priced its initial public offering two dollars above their expected range. The company sold 4.4 million shares at $20 a pop to raise $88 million. Jefferies and J.P. Morgan were lead bookrunners, with Credit Suisse, Deutsche Bank, Piper Jaffray, Wells Fargo and Macquarie Capital (USA) acting as co-managers. Fogo de Chao is still majority-owned by private-equity firm Thomas H. Lee.

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