This month, Hela Apparel Holdings made history as the Sri Lankan textile giant hosted the most successful oversubscribed and largest Initial Public Offering of the past decade.
The IPO offered 267,108,998 ordinary voting shares for LKR 15 per share, amounting to a 20.5% stake in the company. The company planned to raise LKR 4 billion via the IPO to fund the company’s future projects. The IPO was oversubscribed by times 5.4 as it received 23,205 applications worth LKR 21.8 billion.
Hela will use the funding obtained from the IPO to boost its supply chain by investing in a fabric mill, strengthening its core digital systems, and supporting the company’s balance sheet as part of its global expansion strategy.
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