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 HanoiPeople’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 HanoiTelecom, which owns telecom provider Vietnamobile, and Daewoo Hotel on Nguyen Chí Thanh Street in Hanoi.

Hanel has also built many real estate projects in Long Biên District in east Hanoi.

By the end of 2014 Hanel’s total assets were valued at VND2.902 trillion, with an after tax profit of VND120.28 billion.