Updated from 1:35 p.m. ET
got a rousing welcome from Wall Street as its shares rose sharply in their first day of
KPMG ended the regular session at $23.97, up 14.7% from their opening price of $20.44. The high for the day was $24.25, but the shares settled back to $23.56 in after-hours
The McLean, Va., technology consulting firm, one of the world's largest with more than $2 billion in yearly revenue, was priced to sell about 112.5 million shares at $18 each.
Morgan Stanley Dean Witter
was the lead underwriter for the initial public offering.