Cava Group will debut on the New York Stock Exchange Thursday after pricing its initial public offering at the higher end of its target, suggesting solid demand for shares in the fast-casual restaurant chain.
In a muted market for new listings, Cava will sell 14.44 million common shares at $22 each, the company said late Wednesday. That’s from its prior range of between $19 and $20 a share and the initial range of $17 to $19.
The $22 level would value the Washington, D.C.-based restaurant chain at around $2.46 billion.
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