Coast Savings’ initial offering was sold out.
The Los Angeles-based savings and loan sold about 9 million common shares at $14 each. After the first day of trading, the price closed at $15. Coast Savings said it also sold another 4 million shares to its depositors. The last large depositor-owned S&L; in California to go public, Coast said it netted nearly $170 million from the initial offering. The money will be used for general corporate purposes.
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