NEW YORK — Shares of Wingstop soared Friday after the chicken wings chain said it raised more than $110 million in its initial public offering, the latest debut for a fast casual restaurant.
The stock climbed $11.59, or 61 percent, to close at $30.59 on Friday, far above its IPO price of $19 a share.
Chains that call themselves “fast casual” tout a more relaxed atmosphere than traditional restaurants, while promoting their meals as healthier and fresher than fast food. The style has grown in popularity in recent years, and older fast-food chains are trying to refashion themselves to catch the trend.
In a recent flurry of fast-casual debuts, shares of Shake Shack and sandwich-maker Potbelly both more than doubled in value while El Pollo Loco climbed about 60 percent.
Shares of Wingstop are listed under the ticker “WING.”
