There were signs of life in the initial public offering on Monday with a lineup of six deals on tap this week, four of which are expected to raise more than $100 million.
The Cava deal’s more than 99% increase on its first day of trading was the biggest for a U.S. company since 2021, and the biggest for a restaurant IPO since Shake Shack in 2015, according to Renaissance Capital, a provider of IPO exchange-traded funds and institutional research. The Federal Reserve decision to keep interest rates unchanged at its last meeting has some investors talking about another bull market, which is likely to attract interest from retail investors and institutional money, starved as they are for IPOs.
Savers Blue Village SVV, , the biggest for-profit thrift store chain in North America, is aiming to raise $300 million at a $2.8 billion valuation, according to Renaissance. The company has 317 stores that operate under different names. It’s aiming to list on the NYSE under the ticker “SVV.”