Petrolimex, Vietnam's top fuel distributor and importer, successfully launched a initial public offering (IPO) last week, during which the state sold 2.56% of the company's shares for 412.27 billion dong ($20 million) at an average price of 15.03 dong/share, according to a notice on the Hanoi Stock Exchange. The IPO was about . 10% oversubscribed with 307 investors - of which only three were corporate investors, according to Petrolimex- bid for more than 30 million shares.
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