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Chipotle Mexican Grill

El Pollo Loco stock sizzles to close at 60% above IPO price

El Pollo Loco stock sizzles to close at 60% above IPO price

El Pollo Loco, the fast-food chain known for Mexican-style grilled chicken, found a sizzling reception on Wall Street for its initial public offering. Shares of the Costa Mesa company closed up $9.03, or 60%, at $24.03, up from the IPO price of $15. The offering raised $107 million by selling 7.1 million shares of common stock. El Pollo Loco joined a wave of IPOs this year as companies look to take advantage of a healthy stock market. "It's been a good year for IPOs, and I think the restaurant industry like other industries has been able to capitalize on that," said Antal Neville, industry analyst at IBISWorld. El Pollo Loco seems "to feel it's a good...

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