The latest in a growing trend
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By John Kell
Fast-food burger chain Shake Shack is reportedly planning to launch an initial public offering, the latest dining chain angling to give investors something to chew on.
The company’s majority owner, Union Square Hospitality Group LLC, has reportedly interviewed banks in recent weeks to appoint underwriters for the IPO, Reuters reported on Friday, citing people familiar with the matter. Shake Shack, which first opened a kiosk in Madison Square Park in New York City, has restaurants in just four U.S. states and the District of Columbia, as well as a few locations abroad.
Shares of consumer-focused restaurant and grocery chains often surge on the first day of trading, as investors place a bet on smaller players they hope can one day be the next Chipotle, Whole Foods, or Panera.
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