Best possible debut on the stock market by Bojangles

Best possible debut on the stock market by Bojangles

The Bojangles, fast food restaurant chain in the United States celebrated its stock market debut with the shares increase of 47 percent. The maker of tasty fried chicken and buttermilk biscuits proved that investors are as hungry as their customers for the share in the company. By the end of trading day, the stock of North Carolina based company was up by 25 percent.

 The decision to go public was well received on the Wall Street. The company was so excited about its first trading day that it decided to distribute free Ham, egg, cheese biscuits and Cajun Chicken filets during breakfast time in the Times Square.  Around 100 company workers, officials and their families landed in New York for this exercise during an initial public offering.

 Clifton Rutledge, Chief Executive Officer, Bojangles' Famous Chicken 'n Biscuits informed press that this was a great day for the brand. He further added that this is a historic occasion for all workers and stake holders, the investors have tremendous confidence in our brand and the response has been overwhelming from the other end.  

The ticker symbol at NASDAQ is BOJA and the shares opened at $26.55. The share value fluctuated between $28 and $23.75. By the end of the day the IPO price was stable at $19. Positive job reports by the US government further helped to boost the share value on the debut day.  The brand was founded back in 1977 and currently operates 622 restaurants located across 10 states in the country. More than 66 percent restaurants are located in both Carolinas.

 

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