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Linn climbs in 1st trading day

Friday, 12 Oct 2012 | 2:49 PM ET

NEW YORK -- Shares of LinnCo LLC, a subsidiary of oil and natural gas developer Linn Energy LLC, rose nearly 4 percent in its first day of trading on the Nasdaq.

The Houston company raised about $1.1 billion in its initial public stock offering, selling 30.3 million shares for $36.50 each.

Trading under the "LNCO" symbol, shares added $1.30 to $37.80 in afternoon trading.

Diamondback is one of nine companies to have gone public this week, a sign that the IPO market is revving up in the fourth quarter. All but one are trading above their IPO price.

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