INR IPO Does Better than Expected, Stock Trading Pops 10% Higher

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A couple of encouraging signs for Infinity Natural Resources (INR) and its recent initial public offering (IPO). Two weeks ago, we told you that INR had pulled the trigger on its IPO and was offering new shares, targeting to receive somewhere between $18.00 and $21.00 per share (see Infinity Natural Resources Launches IPO, Hopes to Raise ~$250M). We picked the mid-range and said wouldn't it be great if the company got $250 million (roughly $19/share). Lo and behold, the money that came in was on the high side. The company raised $265 million ($20/share), giving INR a $1.18 billion market capitalization. Not only that...

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