Markit (MRKT) Surges on First Trading Day After IPO (Update)

Update (4:15 p.m.): Updated with Thursday market close information.

NEW YORK (TheStreet) -- Markit  (MRKT) surged Thursday, the financial information and services company's first day of trading after its IPO.

The company priced its initial public offering of 53.5 million shares, increased from the expected 45.7 million shares, at $24 a share, the midpoint of the expected range of $23 to $25 a share. Markit, which has a market value of approximately $4.3 billion, raised $1.3 billion in the IPO.

The stock opened at $26.15 on Thursday and hit a high of $27.40 and a low of $26.06 for the day. It closed up 11.25%, or $2.70, to $26.70. More than 31.5 million shares changed hands.

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