Viet Thang Textile Co raised 29.2bio VNDong (1.8 mio Us$) from selling 2.8mio shares to Vietnamese investors. The average price was at 0.65US$, 0.02US$ above the initial offering price. Thus, the market value of Viet Thang rose by 0.3mio US$ to 9.1mio US$.
Viet Thang has joint ventures with South Korean and Russian firms in Ho Chi Minh City to produce yarn, fabric and jackets for export.
Viet Thang was established in 1960 and is a member of the Vietnam National Textile and Garment Corp. It produces and trades fiber, towels, materials and machinery for the industry.
Source: Reuters
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