With its IPO drawing nearer, Hela Apparel Holdings Limited (the holding company of the Hela Clothing Group) engaged with investors through a special investor forum on the 5th of January 2022. The hybrid event was held at the Galle Face Hotel, with numerous participants attending virtually.
The fundraise, the largest IPO in nominal terms for over a decade, attracted analysts and investors from Sri Lanka and abroad with active participation being witnessed from institutions, high net-worth individuals and retail investors. At the event, Hela Clothing’s senior management team and other top stakeholders presented their case and engaged with investors.
Discussing Hela Clothing’s investor forum, Dilanka Jinadasa – Group CEO of Hela Apparel Holdings said, “It’s truly amazing to see the level of interest for this IPO and that too from a wide spectrum of investors. It’s not often that you get to be a part of a team that’s built a global company sought after by the public. We are truly excited for the next phase of our journey and proud to be able to share it with a wider group of stakeholders this time.”
Hela Apparel Holdings Limited is set to offer 267,108,998 ordinary voting shares to the public at a price of LKR 15.00 per share, through its IPO, which is scheduled to open on 12th January 2022. Jointly managed by CT CSLA and CAL, the issue aims to raise approximately LKR 4 billion in equity capital from investors, through the sale of a 20.5% stake in the company, which is expected to result in a market capitalization of LKR 19.5 billion. The company, with revenues generated exclusively in USD, is forecasting a revenue of USD 270 million for this financial year .
Through its global expansion initiatives, the company has also emerged as a leader in Africa’s apparel revolution. Hela Clothing provides manufacturing solutions to some of the world’s top luxury apparel brands including Tommy Hilfiger, Calvin Klein, Michael Kors and Karl Lagerfeld, through its 11 manufacturing facilities located in Sri Lanka, Kenya, Ethiopia and soon in Egypt.
Hela Clothing’s IPO prospectus and all other relevant information can be easily accessed via the company’s dedicated microsite, https://ipo.helaclothing.com/.