McDonald’s Operator Arcos Dorados Soars After Initial Offer

Arcos Dorados Holdings Inc., McDonald’s Corp.’s biggest independent franchise operator, gained 25 percent in its first day of trading after raising $1.25 billion in an initial public offering.

Arcos Dorados, based in Buenos Aires, raised 33 percent more than it originally sought, selling 73.5 million shares for $17 each yesterday, according to a company statement and data compiled by Bloomberg.