El Pollo Loco, a chicken restaurant based in Mesa, Calif., has registered for an initial public offering (IPO).
El Pollo Loco’s goal with its IPO is to raise money to pay off $100 million of debt. The company wants to use the ticker symbol “LOCO” on the Nasdaq Global Select Market. The company hasn’t mentioned how much stock would be part of the IPO, but it will be common stock, reports Nation’s Restaurant News.
As part of its filings with the Securities and Exchange Commission, El Pollo Loco reported that it has had 11 consecutive quarters with same-store sales growth. The company has also reported that it has seen total revenue increase 15% from 2011 to its most recent quarter. It also reported net income of $5.5 million during this quarter, Nation’s Restaurant News notes. Read