Hayleys rights issue oversubscribed

Chairman and CEO Mohan Pandithage

Hayleys PLC announced that its Rs.9 billion rights issue has been oversubscribed by over Rs.2 billion. 

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 50 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.