Investors Jump at Conrail Stock
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United Press International
NEW YORK — Investors snapped up shares of Conrail today as the government began selling shares to the public in the biggest corporate stock offering in U.S. history.
Conrail stock traded heavily on the New York Stock Exchange. At midday, investors were paying about $31.25 a share, more than $3 above the initial offering price. At that price, the sale of the government’s 85% stake in the railroad was worth $1.83 billion.
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