US Foods Stock Surges 5% On Its First Day Of Trade

Food services company US Foods Holding Corp. shares surged 5% in their first day of trading, after pricing at $23 a share, the higher end of its range of $21 to $24. The company sold 44.4 million shares to raise $1 billion. That made it the second-biggest IPO in a dull year for new offerings. The deal marks a partial exit for private-equity firms Clayton Dubilier & Rice LLC and KKR & Co . Shares were last quoted at $24.48.