MELBOURNE -(Dow Jones)- Shares in mining consultant and software group Runge Ltd. (RUL.AU) listed Tuesday on the Australian Securities Exchange at an 11% premium to the price they were issued at in the company's recent initial public offer.
Runge first traded at A$1.11 compared with an issue price of A$1 in the IPO, giving the company a market capitalization of A$135.3 million.
Runge intends to use the funds it has raised to add to recent acquisitions as well as chase organic growth in a sector it says has a favorable outlook, with the China-driven commodities boom sparking strong demand for mine planning consultants and mining technology.
-By Alex Wilson, Dow Jones Newswires
RUL closed at $1.18
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