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China-based Country Style Cooking Restaurant Chain sets IPO terms

September 14, 2010

Country Style Cooking Restaurant Chain, a fast food restaurant in China with 101 locations, announced terms for its IPO on Tuesday. The Chongqing-based company plans to raise $65 million by offering 5 million ADSs at a price range of $12-$14. At the mid-point of the proposed range, Country Style Cooking will command a market value of $334 million. The fast food chain, which was founded in 2007 and booked $73 million in sales last year, plans to list on the NYSE under the symbol CCSC. BofA Merrill Lynch and Credit Suisse are the lead underwriters on the deal, which is expected to price during the week of September 27.