In a bid to raise expansion fund, Vietnamese textile manufacturer Vigatexco's initial public offering (IPO) sold shares amounting to about VND48 billion (US$3 million) at an auction in Ho Chi Minh City.
With legal capital of VND95 billion ($5.96 million), Thang Loi Garment and Textile Co. (Vigatexco) offered 4.7 million shares in its IPO; however, surprisingly investors bought almost six million shares.
Individual investors purchased more than 800,000 shares.
The auction was held at HCMC Securities Trading Center, where shares reached the height of VND14,500 ($0.91) against their face value of VND10,050.
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