Viet Steel Trading and Manufacturing Company Limited, a company linked to Do Duy Thai, Chairman of Pomina Steel Corporation, has registered to sell 7.5 million POM shares to fulfill debt obligations on behalf of Pomina. The transaction is scheduled to take place from January 19 to February 13, through both negotiated trades and matching orders. 

The company currently holds more than 52.5% of Pomina's shares, and if the sale is completed, its ownership will fall to around 49.8%. However, the shareholder group related to Mr. Do Duy Thai will still maintain control through other family-held shares.

This move comes after POM stock recorded nine consecutive ceiling-price sessions, pushing its price up by 200% in recent weeks. Based on the current market price, the share sale could bring Viet Steel roughly 45 billion VND to help cover debt payments.

The stated reason for the sale is to settle Pomina’s debt obligations, as the company continues to face significant loan and lease liabilities while its cash flow remains strained.