Global burger chain Shake Shack or­ders up ini­tial pub­lic of­fer­ing

The China Post - - WORLD BUSINESS -

Shake Shack is bring­ing its burg­ers, milk­shakes and crin­kle-cut fries to Wall Street.

The burger chain filed for an ini­tial pub­lic of­fer­ing Mon­day, hop­ing to raise as much as US$100 mil­lion. It didn’t say how many shares it plans to of­fer, or at what price, so that num­ber may change. It plans to use the cash raised to open more restau­rants, in­clud­ing its first one in Austin, and to ren­o­vate ex­ist­ing stores.

There are now 63 Shake Shack restau­rants around the world. In 2013, the company had rev­enue of US$84.5 mil­lion, up 45 per­cent from the year be­fore. It posted a profit of $5.4 mil­lion in 2013, up 31 per­cent from 2012.

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