Global burger chain Shake Shack orders up initial public offering


AP

NEW YORK — 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.

Other fast-casual restaurant operators have fared well after their IPOs. Shares of El Pollo Loco Holdings Inc., a chicken chain, have risen about 40 percent since its July IPO, while shares of Mediterranean-style restaurant chain Zoe’s Kitchen Inc. have doubled since their April debut.

Shake Shack Inc. plans to list its stock on the New York Stock Exchange under the ticker symbol ��SHAK.��