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Cardinal Energy Climbs By 10% In Trading Debut

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December 17, 2013

Cardinal Energy Ltd. (TO: CJ), a producer of oil in Alberta, rose as much as 10% in its trading debut after selling C$225 million (US$212 million) during an initial public offering in Toronto.

Cardinal Energy traded at C$11.25 at 9:58 a.m. on Dec. 17 in Toronto, up 7.1% from its offering price of C$10.50 a share. The stock earlier surged to C$11.55.

The Calgary-based company sold 21.4 million shares in its initial offering price earlier this month in a sale led by Royal Bank of Canada and Canadian Imperial Bank ...

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