El Pollo Loco gets strong first-day pop with IPO

El Pollo Loco gets strong first-day pop with IPO

Stock price up 66 percent by late afternoon trading

Shares of El Pollo Loco Holdings Inc. soared in the first day of trading Friday, climbing to 66 percent by late afternoon.

The Costa Mesa, Calif.-based chain’s stock price opened at $19 per share, $4 higher than the $15 initial public offering price set the night before with the goal of raising $107 million to pay off debt.

By presstime, the stock price hit a high of $24.98 per share. The stock is trading on the Nasdaq under the ticker symbol “LOCO.”

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