Shake Shack serves up US$80m IPO

摘要

New York-based hamburger chain shake shack has launched an IPO of up to US$80m set to price on Thursday. The fast-growing chain is seeking a premium valuation relative to recent restaurant IPOs such as Habit Restaurants and El Polio Loco, but one reservation is the company's ability to expand outside lucrative markets such as New York and Washington DC into even more intensely competitive burger markets such as California, where chains such as In-N-Out burger have a strong market position selling the traditional American fast food staple.