LONDON - Prudential Banking PLC raised $355 million by selling a 20% stake in its Internet bank, Egg, in an initial public offering Monday. The proceeds will be used for Egg's expansion into Europe and for acquiring Internet companies.

Shares in Egg rose more than 11% to close at $2.68 per share and were the most heavily traded issue on the London exchange, with 80 million shares changing hands.

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