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Paramount Group Rises After Record IPO for a U.S. REIT

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Paramount Group Inc., an office landlord, climbed in its trading debut after raising $2.3 billion in the largest ever initial public offering for a U.S. real estate investment trust.

The shares climbed 3.9 percent to $18.18 after the company sold them for $17.50 each. The shares are listed on the New York Stock Exchange under PGRE.