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Updated from 1:35 p.m. ET

KPMG Consulting


got a rousing welcome from Wall Street as its shares rose sharply in their first day of


trading Thursday.

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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.