Dunkin’ Brands shares soar in stock market debut

(Reuters) – Investors eagerly bought the shares of Dunkin’ Donuts parent Dunkin’ Brands Group Inc (DNKN.O), sending them up as much as 56 percent on their first day of trading on Wednesday.

The stock gained almost 47 percent to close at $27.85 after hitting an session high of $29.62 during its first day of Nasdaq trading.

The company’s new market value of more than $3.5 billion is still significantly smaller than rivals McDonald’s Corp (MCD.N) and Starbucks Corp (SBUX.O), but the Dunkin’ Donuts chain has a devoted U.S. following and plenty of room for domestic growth, particularly on the West Coast.

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