Yogurt seller Chobani files to go public on the Nasdaq

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Chobani Inc. filed Wednesday for an initial public offering, but the New York-based yogurt company has not yet set any terms. The company has applied to have its stock listed on the Nasdaq under the ticker symbol “CHO.” The company has not yet determined how many shares it will sell in the IPO, an expected range for the IPO pricing, or how many shares there will be outstanding after the IPO. There were 12 underwriters listed, led by Goldman Sachs and BofA Securities. The company has recorded a net loss of $24.0 million on revenue of $1.21 billion during the nine months ended Sept. 25, after a loss of $21.4 million on revenue of $1.07 billion in the same period a year ago. The company, founded in 2005, is run by Founder and Chief Executive Hamdi Ulukaya. The company is looking to go public at a time that the Renaissance IPO ETF IPO, -1.03% has rallied 8.5% over the past three months while the S&P 500 SPX, -0.14% has gained 5.5%.

This article was originally published by Marketwatch.com. Read the original article here.

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