Tags: US | China | Lodging | Group | IPO | Mover

China Lodging Shares Climb in IPO Debut

Friday, 26 Mar 2010 12:52 PM

Shares of Chinese hotel chain China Lodging Group are rising in their trading debut, after the company's initial public offering raised $110.3 million.

The company priced 9 million American Depository Shares at $12.25 apiece. Each ADS represents four ordinary shares.

Its shares rose $1.47, or 12 percent, to $13.72. They reached $15.50 earlier in the session.

China Lodging Group Ltd. operates HanTing economy hotels in China. Proceeds from the IPO will be used to expand its hotel network and for general corporate purposes.

As of Dec. 31, the company had 236 hotels and 28,360 rooms in 39 cities across China.

It's trading under the symbol "HTHT" on the Nasdaq.

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