Mission Biofuels' IPO oversubscribed - Breaking News - Business - Breaking News

Biodiesel company Mission Biofuels Ltd's initial public offering (IPO) of shares has closed early and oversubscribed.

Managing director Nathan Mahalingam said the offer of 27 million shares at $1 per share to raise $27 million before costs had been significantly oversubscribed.

He said share trading on the Australian Stock Exchange would likely commence in early May.

© 2006 AAP