Country Style Cooking Restaurant Chain Co. surged 47 percent after the operator of 101 fast-food outlets in China raised 18 percent more than initially sought in its initial public offering.
The company climbed 47 percent to $24.30 in New York Stock Exchange trading today after selling $82.5 million in American depositary receipts at $16.50 apiece yesterday. Country Style Cooking had originally asked for as much as $14 each before increasing its offer price range to $14 to $16 on Sept. 23, the Chongqing, China-based chain’s Securities and Exchange Commission filings showed.
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