Costa Mesa-based El Pollo Loco Holdings Inc. set the terms for its planned initial public offering.
The chain plans to raise $100 million by offering 7.1 million shares in a range of $13 to $15, giving it a fully diluted market value of $531 million.
Proceeds from the IPO, expected to price this week, will be used to repay debt, according to the company’s registration statement with the Securities and Exchange Commission.
El Pollo Loco is owned by private equity firms Trimaran Capital Partners in New York and Los Angeles-based Freeman Spogli & Co.
El Pollo Loco has spent the past few years retooling store operations and its executive team under Chief Executive Steve Sather.
El Pollo Loco most recently reported annual systemwide sales of $657.6 million and revenue of $315 million. It has more than 400 locations, including 53 in Orange County.
The company plans to list its stock on the Nasdaq Global Select Market under the ticker symbol LOCO.
