Kosmos up 5 pct. in 1st day of trading on NYSE

AP News
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Posted: May 11, 2011 12:24 PM
Kosmos up 5 pct. in 1st day of trading on NYSE

Kosmos Energy Ltd.'s stock gained 5 percent in its first day of trading on the New York Stock Exchange.

The oil exploration and production company's shares traded at $18.85 midday on Wednesday, above its offering price of $18 per share.

Kosmos said last month that it expected to offer 30 million shares for between $16 and $18 per share. Its initial public offering contains 33 million shares.

The underwriters were given an option to buy up to an additional 5 million shares to cover any excess demand.

Kosmos is trading under the "KOS" ticker symbol.