Hela IPO opens today

The initial public offering (IPO) of Hela Apparel Holdings Limited, the holding company of the Hela Clothing Group, is set to open today.

The IPO has gathered significant interest from institutions, high net-worth individuals and retail investors, a statement issued by the company said. Hela Apparel Holdings Limited is offering 267,108,998 ordinary voting shares to the public at a price of Rs.15.00 
per share. 

The issue is being jointly managed by CT CSLA and CAL, and aims to raise approximately Rs.4 billion in equity capital from investors through the issue of shares equivalent to 20.5 percent stake in the company. This is expected to result in a market capitalisation of 
Rs.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. 

Provides 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.