LinnCo, created to help partnership Linn Energy (LINE +2%) attract more institutional investors,...

|About: Linn Energy, LLC (LINEQ)|By:, SA News Editor

LinnCo, created to help partnership Linn Energy (LINE +2%) attract more institutional investors, sold 30.25M shares at $36.50 each to raise $1.1B in its IPO, pricing the shares below the proposed range. LINE has increased production more than fourfold in five years and nearly doubled reserves in 2011. Each share of LinnCo represents a unit in LINE, and it will own 13.2% of the partnership.