Mediterranean fast-casual chain Cava is expected to make its market debut on the New York Stock Exchange using the ticker CAVA.
Mario Tama | Getty Images News | Getty Imagesprepares to make its public market debut Thursday, other restaurant companies will be watching closely while they decide whether to follow in the Mediterranean restaurant chain's footsteps.since the financial crisis. Few U.S. companies have pursued IPOs, wary of a volatile market rocked by the war in Ukraine, inflation, rising interest rates and recession fears.
Of the 44 IPOs that have priced shares this year, just 20 were for companies based in the U.S., according to data fromCava's IPO could help break that drought, as a handful of restaurants watch to see how the chain fares as they mull whether to jump into the public market themselves. "A successful IPO from Cava should open the door to more restaurant IPOs," said Matt Kennedy, senior strategist at Renaissance Capital. "It'll show that investors are interested in the space, and companies can get a certain valuation in the public markets."at $22 per share, valuing the company at $2.5 billion. The company initially sought to price its common stock offering at $17 to $19 per share, which would have given it a valuation of $2.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mediterranean fast-casual restaurant chain Cava prices IPO at $22 a shareMediterranean fast-casual restaurant chain Cava Group on Wednesday priced its initial public offering of 14.4 million shares at $22 a share.
Read more »
Cramer expects Cava to roar when it goes public, but warns investors to tread carefullyCNBC's Jim Cramer told investors to tread carefully when it comes to Cava, the fast-casual restaurant chain that's expected to go public this week.
Read more »
New York unveils 14 new custom regional license platesNew Yorkers can now show their state pride wherever they are from.
Read more »
Waukegan woos Bears amid search for new home, offers lakefront location for new stadiumWith the Chicago Bears no longer solely focused on Arlington Heights as their new home, the mayor of Waukegan is asking the NFL franchise to take a look at her city.
Read more »