The crazy chicken is coming to Wall Street.
If you're not from the West, you may not have heard of El Pollo Loco. But if you're an investor, you may smell something juicy cooking this week.
El Pollo Loco, which specializes in Mexican-style grilled chicken, is expected to begin trading Friday.
The restaurant chain is aiming to raise $107 million in an initial public offering of more than 7.1 million shares priced at $15, the company said Thursday. That is at the upper end of its previously-announced range. El Pollo Loco plans to list its stock under the ticker "LOCO" on Nasdaq.
It's a West Coast thing. El Pollo Loco has 401 locations in five U.S. states, including Texas and Arizona. But the vast majority of its restaurants are in California.
The first El Pollo Loco was opened in 1980 on Alvarado Street in Los Angeles, and the chain still has a huge presence in the city. Last year, it generated 80% of its revenue from the greater Los Angeles area.
El Pollo Loco has ambitious plans to expand. The company believes it has the potential to one day operate 2,300 locations in the United States, according to internal estimates.