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Bojangles Inc. set terms Monday for its upcoming initial public offering, pricing shares at a range of $15 to $17, according to a filing with the Securities and Exchange Commission.
The Charlotte, N.C.-based quick-service chicken operator plans to sell 6.3 million shares, and could raise as much as $123 million if its stock is priced at the peak of that range.
The peak price would give Bojangles a market cap of $610 million. The company will trade on the Nasdaq stock exchange under the symbol BOJA. Advent International, the 635-unit chain's owner, is selling most of the shares and will receive the bulk of the offering proceeds.
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