Hayleys PLC announced that its recently concluded Rights Issue of Ordinary Voting Shares has been oversubscribed
, reflecting strong investor confidence in the diversified conglomerate's strategic direction.
According to the latest market disclosure, the company received applications for 55,243,312 shares
, significantly exceeding the 45,000,000 shares offered
. The total value of the subscriptions received, including applications for additional shares, amounted to Rs. 11,048,662,400
, surpassing the initial target of Rs. 9,000,000,000.
The Rights Issue was offered to shareholders in the proportion of three (3) new Ordinary Voting Shares for every fifty (50) existing shares held. Each new share was priced at Rs. 200. The company has stated that the proceeds from this capital infusion will be utilized to fund new investments and for the part settlement of existing debt.
