Macquarie's Miclyn starts trading above IPO price

MELBOURNE, March 26 (Reuters) - Shares in Macquarie Group's (MQG.AX) oil and gas services firm Miclyn Express Offshore (MIO.AX) debuted on Friday at A$1.92, above its issue price of A$1.90, a positive result in the first large IPO since November.

The issue price, which gives the group a market value of about A$516 million ($470 million), was near the bottom end of its offer range oF A$1.85-A$2.30.

Macquarie, Australia's biggest investment bank, held onto a 34 percent stake in the Singapore-based company.

Macquarie Capital, JP Morgan (JPM.N) and Morgan Stanley (MS.N) were joint lead managers on the offer. (Reporting by Victoria Thieberger; editing by Balazs Koranyi)