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HOUSTON (AP) - Spectra Energy, a spinoff of power producer Duke Energy, was making a successful debut Wednesday on the New York Stock Exchange as one of the three largest natural gas transmission companies in North America.
Spectra Energy Corp. shares rose 87 cents, or 3.14 percent, to close at $28.62 on the NYSE. The spinoff of Spectra, a natural gas company, was completed Tuesday, when markets were closed to observe the memorial service for former President Gerald R. Ford.
Duke Energy Corp. spun off Spectra through a stock distribution that provided Duke shareholders one share of Spectra for every two Duke shares.
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