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Mexican food chain Chipotle raises range

January 23, 2006
CMG

Chipotle, McDonald's spin off of its Mexican-themed, "fast casual" restaurant chain, filed revised terms Monday morning. In a sign of strong investor demand, the CO based company raised its range to $18 to $20 from $15.50 to $17.50. The offering size remains unchanged with the company offering 6.1 million shares and the parent McDonald's selling 1.8 million shares. Morgan Stanley and SG Cowen are the lead underwriters on the deal. The deal is expected to price Wednesday night and begin trading on the NYSE the following morning under the symbol "CMG."