Last updated: October 30. 2013 1:36PM - 178 Views
Associated Press



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(AP) French online advertising company Criteo's stock is surging in its U.S. market debut.


Criteo SA priced its initial public offering at $31 per American depositary share, above the expected range of $27 to $29. Each ADS represents one ordinary share.


The shares were up about 34 percent in afternoon trading.


The Paris-based company sold about 8.1 million shares, 900,000 more than it originally planned, according to a regulatory filing.


Criteo, which specializes in performance display advertising, raised about $251 million. It plans to use the proceeds for general corporate purposes and may use some funds for acquisitions or investments.


The underwriters have a 30-day option to buy up to an additional 1.2 million shares to cover excess demand.


The shares are trading on the Nasdaq under the "CRTO" ticker symbol.


Associated Press
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