UPDATE 1-Campus Crest shares flat in NYSE debut

* Shares open flat with $12.50 IPO price

* Co sold 28.3 mln shares, raised $354.2 mln in IPO

* Shares trading on NYSE under “CCG”

NEW YORK, Oct 14 (BestGrowthStock) – Shares of Campus Crest
Communities Inc (CCG.N: ), which develops and manages student
housing, were flat in their stock market debut on Thursday.

The shares opened at their $12.50 initial public offering
price. They rose as high as $12.64 in early trading on the New
York Stock Exchange but gave up most of the gains to trade at
$12.52 in midmorning trading.

Campus Crest sold 28.3 million shares for $12.50 each in
its IPO, raising about $354.2 million. The company had planned
to sell shares for $12.50 to $14.50 each, after delaying the
pricing of its IPO earlier this month.

Charlotte, North Carolina-based Campus Crest Communities is
organized as a real estate investment trust. After the IPO and
related formation transactions, Campus Crest said it would own
interests in 27 student housing properties containing
approximately 5,048 apartment units and 13,580 beds. It will
wholly own 21 of the properties.

Underwriters on the offering were led by Raymond James. The
shares are trading on the New York Stock Exchange under the
symbol “CCG.”
(Reporting by Clare Baldwin; Editing by Derek Caney)

UPDATE 1-Campus Crest shares flat in NYSE debut