NEW YORK — ClubCorp's stock climbed in its first day of trading on the New York Stock Exchange after the operator of private golf and country clubs raised $252 million in an initial public offering of stock.
Shares of the operator of private golf and country clubs, sports and alumni clubs gained 50 cents, or 3.6 percent, to $14.50 Friday.
ClubCorp Holdings Inc. priced the initial public offering of 18 million shares at $14 each. That's below the projected range of $16 to $18 per share, according to a regulatory filing.
ClubCorp offered 13.2 million shares. A selling stockholder affiliated with KSL Capital Partners LLC sold 4.8 million shares. ClubCorp initially said in the filing that it would offer 10.9 million shares and the stockholder would offer 7.1 million shares.
The Dallas company's stock trades under the "MYCC" ticker.