IPO Roundup: Columbia Pipeline, Easterly Government rise in their stock market debuts

IndustriesAssociated Press

Two companies — a gas pipeline operator and a real estate investment trust — had their stock market debuts Friday. Shares of both companies rose after their initial public offering.

— Columbia Pipeline Partners LP, a Houston-based natural gas pipeline operator, raised nearly $1.1 billion after selling more than 46.8 million units at $23 per unit. Columbia Pipeline is a master limited partnership formed by energy company NiSource Inc. It plans to use most of the money raised to buy an additional stake in a limited partnership called Columbia OpCo. Columbia Pipeline's shares, which are on the New York Stock Exchange under the symbol "CPPL," rose $3.79, 16.5 percent, to close at $26.79 Friday.

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— Easterly Government Properties Inc., a Washington-based real estate investment trust, raised $180 million after selling 12 million shares at $15 per share. The company owns properties that are mostly leased to U.S. government agencies. It will use the money raised to pay back debt. Its shares are on the NYSE, under the ticker symbol "DEA." Its stock rose 50 cents, or 3.3 percent, to close at $15.50 Friday.