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MILWAUKEE (AP) — Shares of Artisan Partners Asset Management Inc. jumped in their trading debut Thursday after the investment manager raised $331.6 million in an initial public stock offering.
The Milwaukee company sold 11.1 million shares for $30 each on Wednesday. Shares priced above the expected price range of $27 to $29, suggesting healthy demand for the stock. The banks managing the deal may buy another 1.7 million shares.
Artisan Partners has $79.5 billion in assets that it manages.
Trading on the New York Stock Exchange under the symbol "APAM," shares rose $9.05, or 30 percent, to $39.05.