NEW YORK (TheStreet) -- Shares of InfraREIT are up 16.22% to $26.73 as the real estate investment trust (REIT) begins trading on the New York Stock Exchange today after pricing 20 million shares of its common stock in its initial public offering at $23 a share. The company owns rate-regulated electric transmission and distribution (T&D) assets, such as power lines, substations, transmission towers, distribution poles, transformers and related property and assets, in Texas. Separately, the underwriters have been granted a 30-day option to purchase up to an additional three million shares of common stock from InfraREIT at the initial public offering price.
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twocents@thestreet.com (Sebastian Silva), The Street
Fri, 01/30/2015 - 9:42am
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