The shares of Hela Apparel Holdings Limited (CODE: HELA-N-0000) commenced trading on the Colombo Stock Exchange (CSE) yesterday, February 7. The shares have been listed on the Main Board of the CSE under the ‘Consumer Durables & Apparel’ sector. The occasion was marked with a special Bell Ringing Ceremony.
Representing Hela Apparel Holdings, Chairman A. R. Rasiah and Group CEO Dilanka Jinadasa graced the occasion, together with other members of the Board of Directors and senior management of the company, as well as the longest-serving employee.
The Joint Financial Advisors and Managers to the IPO were also represented by Group Chief Operating Officer and Head of Investment Banking of CT CLSA Holdings, Zakir Mohamedally, and Managing Director of CAL Partners, Deshan Pushparajah.
The CSE was represented at the event by its Chairman – Dumith Fernando, Chief Regulatory Officer – Renuke Wijayawardhane, and the CSE Senior Management.
Speaking at the ceremony, the Chairman of the CSE, Dumith Fernando, congratulated Hela Apparel Holdings on its initiative to go public.
“Today, we have the largest IPO in the equity market since the resurgence of the equity markets on the CSE. So, it is indeed a happy day for the CSE, as much as it is for Hela Holdings. It is also impressive that we are bringing together not just the largest IPO but something that was oversubscribed by about five and a half times. That’s an issue of Rs. 4 billion. That also gives us at CSE a lot of confidence in the strength of this capital market as a venue for fundraising,” he said.
“CSE’s objective has been to not only bring more companies into the market, but also a much more diverse group of companies that gives many more options for investors to participate in this market. In that regard, having a company like Hela Apparel Holdings that is entirely export-focused at a time when many investors are looking for export-oriented companies to invest in, is advantageous. Hela Apparel Holdings is truly an international company with 18,000 plus staff spread across Sri Lanka and East-Africa. It is truly a story of Sri Lankan entrepreneurship and we at the CSE are very happy and humble to have companies like this listed,” he also said.
Commenting on the apparel industry, Mr. Fernando added, “The apparel industry, of course, is one of the key contributors to our economy, particularly the export segment, and being the largest industrial export segment, it is notable that Hela Apparel Holdings is the first actual largest apparel exporter that is coming to list, which again is another milestone. With this, we wish Hela Apparel Holdings good luck and that all their ambitions be realized after listing but also helped by listing”.
Speaking at the event, the Chairman of Hela Apparel Holdings, A. R. Rasiah, commented, “Today is a landmark for all of us at Hela and marks the culmination of a journey that began more than five years ago, with a vision to build a world-leading apparel supply chain solution provider that shares its value creation with all its stakeholders. We have been truly humbled by the response to the IPO from all sections of the investment community and look forward to working diligently to build global value for all who have placed their trust in us. I would like to thank everyone who’s been a part of Hela’s landmark IPO – including the company’s management team ably led by Group CEO, Dilanka Jinadasa, and the Joint Managers to the IPO – CT CLSA and CAL – who have ensured the successful completion of this landmark listing, as well to the Colombo Stock Exchange for their diligence in guiding us through the process”.
Hela Apparel Holdings is one of the leading apparel supply chain solution providers in Sri Lanka with over three decades of experience in the industry. Over the years the company has successfully built strategic relationships with some of the world’s leading apparel and fashion brands.
