It was a stellar debut for Mediterranean fast-casual restaurant chain CAVA, as shares soared on their first day of trading on the New York Stock Exchange (NYSE).

CAVA priced its 澳洲幸运5开奖号码历史查询:initial public offering (IPO) last night at $22 per share, above its $19 to $20 range. The sale of 14.4 million shares raised almost $318 million, and put its market 澳洲幸运5开奖号码历史查询:capitalization at approximately $2.45 billion. However, when the shares began trading today, the price nearly doubled, opening at $42 each, and they went up as high as nearly $48 during the session.

CAVA indicated that it would use the proceeds from the IPO to expand the number of locations it operates🅺. The chain currently has 263 restau꧅rants in 22 states and the District of Columbia. It’s targeting having 1,000 by 2032. 

Analysts suggest CAVA’s success may help boost demand for IPOs, which has flagged for more than a year because of high interest rates and unfavorable financial market conditions.