Hayleys PLC, Sri Lanka’s leading diversified conglomerate, has announced that its LKR 9 billion Rights Issue has been oversubscribed by over LKR 2 billion, reflecting strong investor confidence in the Group’s financial strength and growth prospects.
The Rights Issue of 45,000,000 new ordinary voting shares was offered at an issue price of Rs. 200 per share, in the proportion of three new shares for every fifty existing shares held.
The proceeds from the Rights Issue will be strategically deployed through a disciplined allocation of capital intended to fund high-growth, future-focused investments. This strategic move further strengthens Hayleys’ financial flexibility and capital structure, channelling fresh capital into growth-oriented assets while reinforcing long-term stability.
By strategically expanding into the modern trade retail segment and scaling renewable energy projects, Hayleys is diversifying its revenue streams to ensure long-term earnings resilience. The continued strengthening of export-oriented verticals is set to drive vital foreign currency inflows, improving profitability through access to larger international markets. Collectively, these initiatives are engineered to accelerate return on invested capital, ultimately driving sustainable shareholder wealth through long-term value creation.
Hayleys PLC carries a National Long-Term Rating of ‘AAA (lka)’ with a Stable Outlook from Fitch Ratings Lanka Limited, recently reaffirmed, the highest credit rating on the Sri Lankan national scale.
Hayleys’ reputation for financial discipline is further underscored by its consistent track record in the capital market. Having successfully completed and duly serviced debenture issues continuously, this has translated into strong investor confidence, as reflected in the oversubscription of its recent rights issue. The Group continues to demonstrate a commitment to timely delivery and transparency for its stakeholders.
About Hayleys PLC
A centrepiece of the Sri Lankan economy, Hayleys PLC is the nation’s No.1 performing public listed corporate (LMD100, 2024-25) and its most diversified conglomerate, with business interests spanning 17 industry verticals and operations in over 20 countries. The Group accounts for approximately 5.4% of Sri Lanka’s total export income and is a leading global supplier in multiple sectors, including close to 5% of global demand for household and industrial rubber gloves and a commanding 16% global market share in coconut shell-based activated carbon. With a workforce of over 38,000 and support for more than 27,000 indirect livelihoods across its value chains, Hayleys continues to be one of Sri Lanka’s largest private sector employers.
Image 1- Chairman and Chief Executive Mohan Pandithage