Potbelly more than doubles in debut on the Nasdaq

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Associated Press

Posted on October 4, 2013 at 8:00 AM

Updated Friday, Oct 4 at 8:02 AM

NEW YORK (AP) — Shares of sandwich maker Potbelly more than doubled in their Nasdaq trading debut.

The company's stock soared $18.33 to $32.33 in morning trading Friday.

Potbelly extends the winning streak for foodies going public. In August natural and organic food store chain Sprouts more than doubled on its launch. Restaurant chain Noodles & Co.'s stock also more than doubled in its June debut.

Potbelly Corp. priced its initial public offering of 7.5 million shares at $14 per share, above the projected range of $12 to $13 each.

Potbelly is selling about 7.3 million shares, while certain stockholders are selling 150,131 shares.

The Chicago company raised $105 million in the offering, which is targeted to close Wednesday.

Potbelly's shares are trading under the "PBPB" ticker symbol.

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