Vietnam's small Dong Phu Rubber Co. has raised 626.04bio VND (39mio US$) by selling more than 11 million state shares. The firm, known as Doruco, sold all 11,701,300 shares on offer at an average price of 53,502 VND (3.33 US$) each at its initial public offering on Wednesday.
Doruco is a subsidiary of state-run General Rubber Corporation, the largest of Vietnam's 60 rubber producers.
Doruco, which has yet to announce a listing plan, produces latex from 8,600 hectares of rubber trees.
Source: Reuters
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