Grocer Fairway Beats Predictions With $160M Nasdaq Debut

Law360, New York (April 17, 2013, 4:28 PM EDT) -- Private equity-backed Fairway Group Holdings Corp. on Wednesday gained big on its first day of public trading, a debut that saw the fledgling supermarket chain rake in $158.8 million and wallop stock-price expectations.

Shares in the 12-store grocery chain opened at $18.07 on the Nasdaq and hit as high as $18.41, rocketing past their $13-a-pop pricing. The stock's going rate relented a bit through trading on Wednesday, giving up some of its ground to settle at $17.35 — still a hefty 33 percent premium over its...
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