The company priced its initial public offering of 7.1 million shares at $15 a share, the high end of the expected range of $13 to $15. El Pollo Loco raised $107.1 million in the offering.
The stock opened at $19 and surged to a high of $19.84 by 10:56 a.m., by which point more than 6.3 million shares had changed hands.
Must Read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. LOCO Price data by YCharts
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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