Case Studies

 

Hemas Holdings PLC –  Rights Issue

Background

Hemas Holdings PLC (HHL) is a conglomerate listed on the CSE with a market capitalization of  Rs. 67.6 Bn as at 28th April 2017. HHL has  business interests spanning FMCG, Personal Care, Health care, Leisure and Transportation sectors. HHL is the market leader in the Sri Lankan pharmaceutical sector with a market share of over 21% during FY2015. Further, the Company is the second largest FMCG player in the Country.

Deal Structure

The Board of Directors of HHL resolved on 20th February 2015 to embark on a capital raising exercise via rights issue to fund its organic and inorganic expansion strategies. The controlling shareholders, owning 71.26% stake in HHL opted not to subscribe to their rights entitlement (40.8 Mn shares) in order to increase liquidity and broad base the shareholding of HHL.

Teejay Lanka PLC – Pre IPO Private Placement

Background

Textured Jersey Lanka PLC(TJL) is one of the leading textile knitting mills in Sri Lanka with a strong customer base including Intimissimi, Victoria’s Secret, Marks & Spencer and Decathlon. Textured Jersey has the backing of two Industry giants, namely Brandix Lanka Limited and Pacific Textiles Holdings Ltd. TJL has a market capitalization of approximately Rs. 28.5 Bn as at 28th April 2017.

Deal Structure

Pre IPO Sell down by the existing shareholders prior to the Initial Public Offering to list on the main board of the CSE.

Teejay Lanka PLC – IPO

Background

Textured Jersey Lanka PLC(TJL) is one of the leading textile knitting mills in Sri Lanka with a strong customer base including Intimissimi, Victoria’s Secret, Marks & Spencer and Decathlon. Textured Jersey has the backing of two Industry giants, namely Brandix Lanka Limited and Pacific Textiles Holdings Ltd. TJL has a market capitalization of approximately Rs. 28.5 Bn as at 28th April 2017

Deal Structure

Initial Public Offering to list on the main board of the CSE via offer for subscription.

Teejay Lanka PLC – Sell Down

Background

Teejay Lanka PLC (TJL) formally known as Textured Jersey Lanka PLC is one of the leading textile knitting mills in Sri Lanka with a strong customer base including Intimissimi, Victoria’s Secret, Marks & Spencer and Decathlon. TJL has the backing of two Industry giants, namely Brandix Lanka Limited and Pacific Textured Jersey Holdings Ltd. TJL has a market capitalization of approximately Rs. 28.5 Bn as at 28th April 2017.

Deal Structure

Sell down by Pacific Textured Jersey Holdings Limited representing 10% of total issued shares of TJL.

Asiri Hospital Holdings PLC – Sell Down

Background

Asiri Hospital Holdings PLC (ASIR) is a leading private hospital chain in Sri Lanka listed on the Colombo Stock Exchange (CSE) with a market capitalization of approximately Rs. 29.2 Bn as at 28th April 2017 and is part of Softlogic Holdings PLC.

The Group has 4 operating hospitals with a room inventory of approximately 600 beds and a hospital under construction in Kandy.

Deal Structure

Sell down by Namal National Asset Management Limited of its entire stake in ASIR in July 2015.

Singer Sri Lanka PLC – Sell Down

Background

Singer Sri Lanka PLC (SINS), an 80% owned subsidiary of Singer Asia, is the leading retailer of consumer durables in Sri Lanka. SINS operates, with 420 retail outlets across the country, catering to ~5mn households. The Group also operates an in-house finance arm and manufactures white goods, sewing machines through its listed subsidiaries, whilst manufacturing furniture and water pumps at holding company level. SINS has a market capitalization of approximately Rs.18.7 Bn as at 28th April 2017.

Deal Structure

Controlling shareholder of Singer Sri Lanka PLC, Retail Holdings (Sri Lanka) BV sell down.

BPPL Holdings PLC – IPO

Background

BPPL is a leading manufacturer and exporter of cleaning tools such as brooms, brushes and mops since 1991. The Group caters to the household, professional, commercial and industrial market segments primarily in USA, Indonesia, Australia, New Zealand and India. Its customer portfolio includes reputed brands such as The Home Depot USA, Rubbermaid USA, Grainger USA, Tesco UK, Oates (Australia). BPPL has a market capitalization of approximately Rs. 3.8 Bn as at 28th April 2017.

Deal Structure

Initial Public Offering to list on the Diri Savi Board of the CSE via offer for sale.