Pomina Steel sells 20% stake to Nansei Steel
Time:Wed, 19 Jul 2023 08:57:38 +0800
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Pomina Steel, a Vietnam-based steel company, has decided to sell nearly 70.2 million shares, a 20% stake, to Japan’s Nansei Steel at VND10,000 per share, 35% higher than the market price.
The shares will be issued in two rounds. More than 10.6 million shares will be offered this August, and the remaining shares will be issued next September. The deal was expected to bring Pomina Steel a revenue of nearly VND702 billion.
Nansei Steel is not allowed to transfer these shares for three years.
