Shares of the newly-minted public stock Wingstop soared almost 60 percent after Friday’s IPO and its CEO Charlie Morrison expects more growth ahead. The company currently has 745 locations worldwide, but expects to open up an additional 2,500 in the U.S. over an unspecified, long-term time frame, he said. ‘We’re targeting long-term growth rates of 10 percent plus annually over the long-term and over time we’ll continue to invest in new restaurants and bring new franchisees on-board. We have Wingstops in six countries across the world and have plans to expand overseas.’ Friday’s IPO was priced at $19 per share, up from previous ranges of $12-14 and $16-18. The Dallas-based company issued 5.8 million shares. At $19, that nets the restaurant chain $110.2 million. ‘We are going to use these proceeds in the near-term for an opportunity to deleverage the company, pay down some debt and for other corporate purposes,' Morrison added.
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