J.P. Morgan & Co. on Wednesday priced an equity offering, marking the first time since the 1930s that a commercial bank served as lead manager of a public stock deal in the United States.

Morgan took to market an 11-million-share offering for Riverwood International Corp. The shares were priced at $14.25 each, for a total of $156.8 million.

Riverwood, a paper products company, is an offshoot of Manville Corp., a longtime client of Morgan. Manville continues to own 82% of Riverwood.

Riverwood shares were trading at $14.375 Wednesday afternoon, up 12.5 cents from their initial offering price.

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