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QTS shares jump in initial trading

[October 09, 2013]  (AP) -- Shares of QTS Realty Trust are jumping 4 percent in their trading debut.

The real estate investment trust, based in Overland Park, Kansas, priced its offering of nearly 12.3 million shares at $21 per share, which is below market expectations. The company also gave underwriters an option to buy another 1.8 million shares if demand is strong.

QTS shares hit $21.92 in midday trading Wednesday.

The company raised nearly $275.3 million. It plans to use the proceeds to repay debt.

QTS Realty Trust Inc. is trading under the symbol "QTS" on the New York Stock Exchange.

[Associated Press]

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