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Diamondback shares rise in initial trading

By The Associated Press
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Diamondback Energy Inc.’s shares are rising its first day of trading as a public company.

The Midland, Texas, company, which develops oil and natural gas reserves in Texas, raised $218.8 million in its initial public stock offering, selling 12.5 million shares for $17.50 each. It had projected a price of $17 to $19.

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