Turn up the grill: Weber off to a hot start in market debut

By MICHELLE CHAPMAN
AP Business Writer

Shares of grilling company Weber have caught fire in their market debut, closing their first day of trading up almost 18%. Weber Inc. sold about 17.9 million shares at $14 per share before its stock started trading. That was below what the Palatine, Illinois-based company and selling shareholders had been looking for. They had wanted to sell nearly 47 million shares between $15 and $17 a share. The stock ended the day up $2.50 at $16.50. The company plans to use proceeds to pay down debt and for general corporate purposes.