This undated product illustration provided by Haberman shows boxes of Annie’s pasta. Investors are gobbling up shares of pasta maker Annie’s Inc., the latest sign of the pull of natural and organic foods for consumers. The initial public offering raised $95 million, with 5 million shares pricing at $19 late Tuesday, March 27, 2012. (AP Photo/Haberman)
NEW YORK (AP) — Investors ate up shares of pasta maker Annie’s Inc. Wednesday, which had the biggest opening day gain for an IPO since May 2011, when LinkedIn went public. It’s the latest sign of the pull of natural and organic foods for consumers.
Shares soared 89 percent to close at $35.92, unseating Proto Labs Inc. as the biggest gainer for an IPO this year. Shares of Proto Labs, a Minnesota-based provider of custom parts, soared 81 percent in their first day of trading in late February. When professional networking company LinkedIn Corp. went public in May 2011, shares surged 109.4 percent.
Best known for its signature macaroni and cheese with pasta shaped like rabbits, Annie’s now makes about 1Login to read more