Steel firm fails to buy target shares

Thep Viet Manufacturing and Trading Company failed to buy the 6.29 million shares in steelmaker Pomina (POM) it had registered for and could only buy 103,570 shares during the period lasting from June 10 to July 9.

The company will however continue to buy the remaining 6.19 million POM shares from July 17 to August 15, increasing its ownership in Pomina to 65.5 per cent. Currently, Thep Viet holds 62.17 per cent.

Thep Viet had planned to increase its stake in February last year and many financial commen-tators will remember that this is not the first time the company has failed to buy shares in POM.

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