US IPO Market Shows Signs of Momentum After Cava’s Winning Debut

The US market for initial public offerings looks like it’s finally coming back to life after 18 months of deathly quiet.

Shares of Cava Group Inc. nearly doubled in its trading debut on June 15 after the fast-casual restaurant chain’s breakthrough IPO was priced well above the initial range set by underwriters. While the stock price has slipped a bit from its early surge, it still remains up about 84%.

Now, a trio of companies are preparing to follow Cava’s lead and tap the public markets this week. All told, about $1.5 billion is expected to be raised in IPOs ...