Portillo's announces plans to go public
Stock could soon be on the menu at Portillo's.
The Oak-Brook based company, known for its hot dogs and sandwiches, confidentially submitted a draft registration statement with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its common stock.
The number of shares and the price range for the proposed offering have not yet been determined.
The Wall Street Journal is reporting that company is targeting a valuation of $2.5 to $3 billion.
Founded in 1963 by Dick Portillo, the restaurant started with a small trailer, called The Dog House, on North Avenue in Villa Park.
Today, the company operates more than 60 restaurants in several states.
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