Investing.com — Cava Group, the Mediterranean-style restaurant chain, popped in its buying and selling debut on Thursday, doubling from its IPO worth.

Shares opened for buying and selling at $42 every, up from its $22 preliminary public providing worth. The providing worth was greater than already raised expectations amid robust investor curiosity.

As of 12:21 ET (16:21 GMT), the shares traded at $41.90, up 90.7%.

The corporate offered 14.4 million shares, elevating about $318M. Cava trades on the New York Inventory Alternate below the ticker image CAVA.

There are a selection of different restaurant chains which might be additionally contemplating a public itemizing amid a comparatively sluggish interval for IPOs. Final month, Johnson & Johnson (NYSE:) spun off its shopper well being enterprise into an IPO of Kenvue Inc (NYSE:).

Lined up within the queue for a doable IPO are soup and sandwich chain Panera Bread and Fogo De Chao, a Brazilian steakhouse.

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