CHICAGO -- St. Paul Cos. sold the first public offering of stock in John Nuveen & Co., its wholly owned subsidiary, on Tuesday in a deal headed by Goldman, Sachs & Co.

The initial public offering comprises 8 million shares of Nuveen Class A common stock at a price of $18 per share, according to a press release from Nuveen. Jeff Kratz, a Nuveen spokesman, said the stock began trading yesterday morning at the New York Stock Exchange under the symbol "JNC."

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