Shares of Argentine cement and concrete maker Loma Negra Compania Industrial Argentina surged 14% in their first minutes of trade Wednesday, after the company priced its IPO at the high end of its price range. Loma Negra is the second Argentine IPO this year and the fifth since 2001, according to market intelligence firm Ipreo. The company sold 50.2 million American Depositary Shares at $19 a pop, raising $954 million, and is listing on the New York Stock Exchange under the ticker symbol “LOMA.” The stock was last up $2.80 at $21.80. The S&P 500 was up 0.3%.
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