Queue for the burgers, queue for the shares. Overwhelming demand saw New York-based hamburger chain shake shack price its IPO above its already upwardly revised marketing range and sent the shares soaring on their debut. Shake Shack, a burger chain renowned for both its produce and long waits, sold 5m Class A shares at US$21 each, up from the US$17-$19 range and well up from the US$14-$16 range indicated when the deal was launched. Debuting on the NYSE on Friday, the shares surged by 124% to US$47, one of the strongest opening gains for any IPO in recent years.
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