Sprouts Farmers Market (NASDAQ:SFM), which operates over 160 natural and organic grocery stores in eight southwestern states, soared nearly 123% in its market debut on Thursday, beating out Noodles & Company (NASDAQ:NDLS) for the best first-day gain of 2013. The company raised $333 million after pricing well above its initial price range. Sprouts' opening day represents the best first-day return for a U.S. IPO since Qihoo 360 Technology (NYSE:QIHU) gained 134% on March 30, 2011, and marks the first U.S.-based company to gain over 120% since NYMEX went public in November 2006. Sprouts is the fourth natural grocer to go public in the last four years, following the successful IPOs of Fairway Markets (FWM; up 92% from its IPO price), Natural Grocers (NGVC; 139%) and The Fresh Market (TFM; 145%).
|Company||Ticker||Business||Deal Size |
|Qihoo 360 Technology||QIHU||Chinese internet security products||$176||134%||349%|
|Sprouts Farmers Market||SFM||Value-priced natural grocer||$333||123%||123%|
|LNKD||Online professional network||$353||109%||353%|
|Splunk||SPLK||Data analysis software||$230||109%||194%|
|Noodles & Company||NDLS||Fast-casual restaurant chain||$96||104%||141%|