NEW YORK — Another sign that the IPO market is getting hotter: The pipeline company Kinder Morgan raised $2.86 billion in the biggest ever initial public offering for a US company backed by private equity firms.
The Houston company was able to sell more shares at a higher price than it anticipated. Investors pushed shares more than 3 percent above their $30 offering price in afternoon trading.
Shares closed at $31.05, up $1.05, on the New York Stock Exchange yesterday under the symbol “KMI.’’
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