National CineMedia IPO Soars in First Day of Trading

U.S. movie theater advertiser National CineMedia opened up 21% in its market debut Thursday, a day after pricing above a forecast range.

On Wednesday, the Centennial, Colorado-based company raised $798 million with a 38 million share initial public offering that sold for $21 a share compared with an $18 to $20 forecast.

Underwriters, led by Credit Suisse, JPMorgan, Lehman Brothers and Morgan Stanley have the option to buy an additional 4 million shares to cover over-allotments, according to a filing with the U.S. Securities and Exchange Commission.