Private equity-backed restaurant chain Shake Shack has reportedly hired banks to manage its proposed IPO.
Shake Shack has picked JP Morgan Chase and Morgan Stanley to manage the IPO, said Reuters, citing people familiar with the matter.
The restaurant chain is owned by Union Square Hospitality Group, which is 39.5 per cent owned by private equity firm Leonard Green & Partners.
It was previously reported that Leonard Green had interviewed investment banks to appoint underwriters for the IPO.
The company could be floated as soon as soon as this year.
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