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Wednesday, September 24, 2014

RBS's Citizens Financial makes a tepid market debut, (NYSE: RBS)

Shares of Citizens Financial Group Inc , the U.S. unit of Royal Bank of Scotland Group Plc , rose less than 1 percent in their debut, valuing the company at about $12 billion in the biggest U.S. offering by a bank since the financial crisis. The offering, which raised $3.01 billion for RBS, is the second biggest in the United States this year after Alibaba Group Holding Ltd's $25 billion IPO last week.Citizens Financial's IPO was priced at $21.50, below the expected range of $23-$25.RBS owned 100 percent of Citizens Financial before the offering.Citizens Financial's shares were at $21.64 shortly after start of trading.

The Royal Bank of Scotland Group plc (RBS) is a holding company of a global banking and financial services group. Shares of RBS traded higher by 0.6% or $0.07/share to $11.76. In the past year, the shares have traded as low as $9.80 and as high as $12.47. On average, 955489 shares of RBS exchange hands on a given day and today's volume is recorded at 271845.