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Hanel to proceed with equitization

Released at: 14:26, 12/10/2015

Hanel to proceed with equitization

Company to sell 61% of charter capital to strategic investors, with the State holding on to 29%.

by Minh Tuyet

The Hanel Limited Company will conduct its equitization this year and sell 9.94 per cent of its charter capital at public auction, 0.06 per cent to its workers, and 61 per cent to strategic investors, with the State retaining 29 per cent.

The equitization ratio has been accepted by Deputy Prime Minister Vu Van Ninh. Hanel currently has VND1.926 trillion ($86.14 million) in charter capital, with the Hanoi People’s Committee approving its valuation on December 12, 2014 and its equitization plan and will now decide the criteria and select the strategic investors.

“Hanel understands that equitization is a major challenge that also brings opportunities for the reform of the company and improvements in human resources and business strategies,” General Director Nguyen Quoc Binh said. He stressed that equitization will be the turning point in the company’s development.

He told VET that Hanel strictly followed the plans of Hanoi’s Steering Committee in the equitization process. “The operational plan of the company after equitization has been basically completed and is waiting for approval by authorities,” he said. He also plans to improve Hanel’s competitive capacity so it becomes a global firm.

Hanel is predicted to record strong growth in 2015, having launched a wide range of information technology in transport, customs, and healthcare. In June it invested VND10.5 trillion ($481.3 million) in a software park in the capital.

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