NEW YORK — Shares of Sprouts Farmers Market Inc. more than doubled Thursday in their debut on the Nasdaq, the biggest first-day gain for an IPO in two years.
The natural and organic food store chain raised about $333 million in its initial public offering of stock. About 18.5 million shares priced at $18 each, above the projected price range of $14 to $16 per share. Of those, 17.7 million shares being sold by the company and nearly 800,000 by early investors.
The Phoenix company won't receive any proceeds from shares sold by selling stockholders.