US Foods surges amid IPO

Shares of US Foods spiked more than 8 percent Thursday shortly after opening for trade on the New York Stock Exchange.

The nation's second-largest food-service distributor offered 44.4 million shares at $23 in its initial public offering. In midafternoon trade, the stock held at $24.91 a share.

US Foods' IPO was also the second-largest of the year in the US, behind MGM Growth Properties' offering in April.