In a sign of strong demand, McDonald's spin-off Chipotle Mexican Grill priced its offering of roughly 7.9 million shares at $22, a 33% premium to its proposed $15.50 to $17.50 range. Chipotle opened its first "fast-casual" Mexican food restaurant in 1993 and today operates 489 locations in 22 states. Morgan Stanley and SG Cowen acted as joint book-running manager for the deal. The stock is expected to commence trading on the NYSE under the ticker symbol "CMG" on Thursday.
