Economy
Market ends flat on rising selling force
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| A stall of Hanel at at exhition. The company will sell 9.94 per sent of shares at an IPO on April 14. — Photo vietnamnet |
HÀ NỘI (VNS) — Electronics firm Hanel One-member Company approved Singaporean firm Sebrina Holdings and Vietnamese electrical designer VietTien Engineering JSC to become its strategic shareholders.
HANEL, specialing on electronics, information technology service, construction and real estate, will offer more than 19 million shares in an initial public offering (IPO) on the Ha Noi Stock Exchange on April 14.
The shares, representing a 9.94 per cent stake in the company, will be offered at a starting price of VND10,000 (US$0.43) each.
After privatisation, VietTien will be Hanel’s biggest shareholder. VietTien will hold 36 per cent of Hanel shares, while Sebrina will hold 25 per cent. The Hà Nội People’s Committee will hold 29 per cent of Hanel’s shares.
Sebrina Holdings has been operating for more than 20 years. It’s a multi-asset class family office established in Singapore, diversified investments in oil & gas, quant trading, real estate and venture capital.
VietTien was founded in 2004. It focuses on services including air conditioning and mechanical ventilation, fire prevention, plumping and sanitary and machinery installation and maintenence.
Hanel has nine subsidiaries and five associated companies, including Hà Nội Telecom, which owns telecom provider Vietnamobile, and Daewoo Hotel on Nguyễn Chí Thanh Street in Hà Nội.
Hanel has also built many real estate projects in Long Biên District in east Hà Nội.
By the end of 2014 Hanel’s total assets were valued at VND2.902 trillion, with an after tax profit of VND120.28 billion. — VNS
