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.