Tran­sUnion rises 13% af­ter de­but

Los Angeles Times - - COMPANY TOWN -

Shares of credit bureau Tran­sUnion closed al­most 13% higher on its first day of trad­ing as a public com­pany.

Shares closed at $ 25.40, up 12.89%. On Wed­nes­day, Tran­sUnion priced its ini­tial public of­fer­ing of 29.5 mil­lion shares at $ 22.50 per share.

The Chicago com­pany said it would use its net pro­ceeds of about $ 626.5 mil­lion to re­duce its over­all debt.

The f irm’s com­peti­tors, Equifax and Ex­pe­rian, are al­ready pub­licly traded.

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