November 20, 2014 / 3:42 PM / 3 years ago

Burger chain Habit Restaurants' shares double in debut

Nov 20 (Reuters) - Shares of Habit Restaurants Inc, a fast food restaurant chain known for its charburgers, doubled in their market debut, valuing the company at about $909.1 million.

The initial public offering of 5 million Class A shares raised $90 million after being priced at $18 per share, well above the expected range of $14-$16.

The company, which operates the Habit Burger Grill chain of restaurants, offers charburgers, sandwiches and milk shakes.

Habit shares opened at $30 on the Nasdaq and touched a high of $36.

Piper Jaffray, Baird and Wells Fargo were among the underwriters to the IPO. (Reporting by Neha Dimri in Bangalore; Editing by Savio D‘Souza)

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