The initial public offering of Hela Apparel Holdings Limited (the holding company of the Hela Clothing Group) is set to open on the 12th of January 2022. The IPO has gathered significant interest from institutions, high net-worth individuals and retail investors.
Hela Apparel Holdings Limited is offering 267,108,998 ordinary voting shares to the public at a price of LKR 15.00 per share. The issue is being jointly managed by CT CSLA and CAL, and aims to raise approximately LKR 4 billion in equity capital from investors through the issue of shares equivalent a 20.5% stake in the company. This is expected to result in a market capitalization of LKR 19.5 billion.
Hela Clothing is a leader in ethical and sustainable manufacturing, having received numerous global accolades in this regard and recently became a signatory to the UN Global Compact. Providing manufacturing solutions to some of the world’s top luxury apparel brands including Tommy Hilfiger, Calvin Klein, Michael Kors and VF Corp, through its 11 manufacturing facilities located in Sri Lanka, Kenya, and Ethiopia. The company has also entered into partnerships with manufacturing facilities in Tanzania and is in the process of expanding its manufacturing footprint to Egypt.