BY LYNN COWAN AND CHRIS DIETERICH
Energy company Kinder Morgan Inc. delivered another boost for private-equity-backed IPOs, rising 3.5% on its first day as a public company.
The gain Friday came even after the company increased the size of the deal and priced it higher than expected.
The stock closed at $31.05 a share on the New York Stock Exchange, up $1.05 from its initial-public-offering price of $30. A total of 95.5 million shares, 15.5 million more than originally planned, were sold at a price above its expected $26-to-$29 range.
"This is a very bullish sign for private equity-backed companies, and it will give them a ...
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