Shake Shack expects IPO to be priced at US$17-US$19/share

[NEW YORK] Burger chain Shake Shack Inc said it now expects its initial public offering to be priced at US$17-US$19 per share, up from its previous range of US$14-US$16.

The offering of five million Class A shares is expected to raise about US$95 million, valuing Shake Shack at about US$674.5 million at the top end of the expected price range, the company said in a regulatory filing on Wednesday.

REUTERS