Citigroup Inc. was able to shuck part of its insurance arm Primerica Inc. through an initial public offering of the unit Thursday. The company's stock closed at $19.65 a share on the New York Stock Exchange, up 31% from its IPO price of $15. Citigroup sold 21.4 million shares in the offering, 3.4 million more than originally planned, pricing them above its expected $12 to $14 range.

Citigroup's own shares rose slightly Thursday, closing at $4.18, up 3.2%.

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