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

HA NOI (Biz Hub) — Electronics firm Hanel One-member Company has approved Singaporean firm Sebrina Holdings and Vietnamese electrical designer VietTien Engineering JSC to become its strategic shareholders.

The company will offer more than 19 million shares in an initial public offering (IPO) on the Ha Noi Stock Exchange on April 14.

The shares, or a 9.94 per cent stake, will be offered at a starting price of VND10,000 (US$0.43) each.

After the equitisation, VietTien will be the biggest shareholder of Hanel, holding 36 per cent of shares, while Sebrina will hold 25 per cent of shares. The Ha Noi People committee will hold 29 per cent of shares.

Sebrina Holdings has been operating for more than 20 years. It focuses on major fields, including venture capital, real estate and oil.

VietTien was founded in 2004. It undertakes the mechanical and electrical engineering design, installation, commissioning and maintenance of civil, industrial and commercial buildings, infrastructure projects, plants and factories.

Hanel works in the fields of electronics production, information technology and telecommunications.

It has nine subsidiaries and five associated companies, such as Ha Noi Telecom, which owns telecom provider Vietnamobile, and Daewoo Hotel on Nguyen Chi Thanh Street in Hà Nội.

It has also built many real estate projects in Long Bien District, east of Ha Noi.

As of December 31, 2014, Hanel's total assets reached VND2.902 trillion with profit after tax of VND120.28 billion. — VNS