Fairway Group Jumps in Trading After Pricing IPO Above Range
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Fairway Group Holdings Corp., the grocery-store chain focused on greater New York, surged 33 percent in its public debut after pricing its initial stock offering above the proposed range.
The stock climbed to $17.35 at the close in New York after advancing 42 percent to $18.41. Fairway and existing owners raised $177.5 million selling 13.65 million shares for $13 each, according to a statement, after offering them for $10 to $12. The shares, which represent a 33 percent stake, are listed on the Nasdaq Stock Market under the symbol FWM.