NEW YORK — Stock in Fairway Group Holdings soared by 30% early Wednesday in its first day of trading on the Nasdaq stock market.
The company, operator of the Fairway Markets chain here, priced its stock at $13 per share, a price that would yield around $159 million for investors. Early Wednesday the stock was trading at more than $18 per share.
Read more: Fairway Reopens in Brooklyn
Officials from Fairway rang the opening bell of the market Wednesday. “We are thrilled to participate in the Nasdaq opening bell ceremony as a newly listed company,” said Charles Santoro, Fairway's executive chairman, said. "The bell ringing ceremony is a wonderful way to celebrate this key milestone for our company and to acknowledge the commitment and support of our employees, customers and investors.”
Fairway was founded as a Manhattan vegetable stand in 1933 and since developed into a destination specialty supermarket with 12 area locations.
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