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Instinet Rises on First Day of Trading After Strong IPO Pricing

 

Electronic trading system Instinet (INET Quote) opened well above its initial public offering price Friday, the company's first day of trading on the Nasdaq nasdaq.

Instinet, a unit of news and financial data company Reuters (RTRSY Quote), opened at $17. The company sold 32 million shares, 2.5 million more than expected, at $14.50 each on Thursday. ...

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