Shares of hotel chain Extended Stay America rise 15 pct in debut
Nov 13 (Reuters) - Shares of hotel chain Extended Stay America Inc rose as much as 15 percent in their market debut, valuing the company at about $4.6 billion.
The Charlotte, North Carolina-based company raised $566 million after its initial public offering of 28.3 million shares was priced at $20 per share, the mid-point of its expected price range.
Extended Stay shares opened at $22.75 and touched a high of $22.96 on the New York Stock Exchange on Wednesday.
Deutsche Bank, Goldman Sachs and J.P. Morgan were the lead underwriters for the offering.
(Reporting by Neha Dimri and Tanya Agrawal in Bangalore; Editing by Kirti Pandey)