Hela Clothing's Landmark IPO Approved By The CSE 
Posted 25,December

By Chaveendra Dunuwille

In Local News

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The Colombo Stock Exchange has approved the first-ever Initial Public Offering (IPO) from a Sri Lankan Apparel manufacturer in the form of Hela Apparel Holdings Ltd. 

The landmark IPO will take place on the 12th of January, 2022 (Wednesday), and will offer 267,108,998 ordinary voting shares, a 20.5% stake in the company for the price of LKR 15 per share. CT CLSA and CAL will jointly manage the IPO, and it plans to raise LKR 4 billion, with a projected market capitalization of LKR 19.5 billion. 

The implied price-to-earnings ratio for the IPO stands at times 10.5, and the company revenue for the current financial year has been forecast at $270 million.