Columbia Pipeline shares surge more than 20% above IPO price in debut trades

NEW YORK (MarketWatch) — Columbia Pipeline Partners LP shares CPPL, +19.80% surged 21% on their first day of trade, climbing above $ 28 compared with their issue price of $ 23 a share. The deal priced late Thursday above the initial price range of $ 19 to $ 21 a share. The NiSource Inc. NI, -1.94% unit, which is structured as a master limited partnership, sold 46.8 million shares to raise $ 1.1 billion. The shares are trading on the New York Stock Exchange under the symbol CPPL.


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