Hayleys PLC has reported that its recent Rights Issue of Ordinary Voting Shares has garnered an overwhelming response, indicating robust investor faith in the company’s strategic plans.
As per the most recent market announcement, the organization received requests for a total of 55,243,312 shares, which notably exceeds the 45,000,000 shares that were made available. The total value of the subscriptions, which includes requests for additional shares, reached Rs. 11,048,662,400, eclipsing the original target of Rs. 9,000,000,000.
The Rights Issue was structured to allow shareholders to acquire three (3) new Ordinary Voting Shares for every fifty (50) shares they currently own, with each new share priced at Rs. 200. The funds raised from this initiative are earmarked for new investments and for partially addressing existing debt obligations.
The Rights Issue process was initiated following a resolution from the Board on January 21, 2026, during which the company also announced an interim dividend of Rs. 6 per share for the financial year concluding on March 31, 2026. After receiving shareholder approval at an Extraordinary General Meeting (EGM) on March 17, 2026, the trading of rights occurred from April 2 to April 10, 2026, with the final date for acceptance and payment set for April 17, 2026.
Hayleys PLC has clarified that this subscription announcement is contingent upon the successful clearance of cheques, bank confirmations, and other required verifications.
Financial Chronicle Biz English | Sri Lanka Business News.
