Sprouts pops 123% in market debut, best first-day return since March 2011

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Sprouts Farmers Market ( SFM ), which operates over 160 natural and organic grocery stores in eight southwestern states, soared nearly 123% in its market debut on Thursday, beating out Noodles & Company ( NDLS ) for the best first-day gain of 2013. The company raised $333 million after pricing well above its initial price range. Sprouts' opening day represents the best first-day return for a US IPO since Qihoo 360 Technology ( QIHU ) gained 134% on March 30, 2011 and marks the first US-based company to gain over 120% since NYMEX went public in November 2006. Sprouts is the fourth natural grocer to go public in the last four years, following the successful IPOs of Fairway Markets (FWM; up 92% from its IPO price), Natural Grocers (NGVC; 139%) and The Fresh Market (TFM; 145%).

Top Five First-Day Returns Since 2011
Company Ticker Business  Deal Size
($mm)
First-Day
 Return
Total
 Return
Qihoo 360 Technology QIHU Chinese internet security products $176 134% 349%
Sprouts Farmers Market    SFM Value-priced natural grocer  $333 123% 123%
LinkedIn LNKD Online professional network  $353 109% 353%
Splunk SPLK Data analysis software  $230 109% 194%
Noodles & Company NDLS Fast-casual restaurant chain  $96 104% 141%




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.




This article appears in: News Headlines , IPOs

Referenced Stocks: NDLS , QIHU , SFM

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