January 27, 2006
IPOutstanding
BusinessWeek online (www.businessweek.com) reported yesterday that shares of Chipotle Mexican Grill were hotter than a jalapeño on the New York Stock Exchange yesterday. McDonald’s Corp. owned about 92% of Chipotle before the offer and still owns a majority interest. Chipotle sold 6.01 million shares of the 7.9 million shares offered and McDonald’s sold 1.82 million. Chipotle expects to receive net proceeds of over $120 million, which it will use to repay outstanding debt and support business growth.