Citizens Financial Group (CFG) Stock Rises Slightly in First Trading Day After IPO

NEW YORK (TheStreet) -- Shares of Citizens Financial Group  (CFG) rose 5.35% to $22.65 in afternoon trading Wednesday, the Royal Bank of Scotland  (RBS) spinoff's first day of trading after its IPO.

Citizens Financial priced its initial public offering, the biggest since the financial crisis, at $21.50 a share, below the range of $23 to $25 that RBS had stated earlier this month. Citizens Financial raised slightly more than $3 billion in the IPO, less than the $3.5 billion RBS had targeted. The IPO values Citizens Financial at $12 billion.

Nearly 50 million Citizens Financial shares had changed hands as of 12:35 p.m.

Watch the video below to get Jim Cramer's take on the Citizens Financial IPO:

 
CFG Price Chart CFG Price data by YCharts

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