The debenture issue of Sri Lanka’s multinational conglomerate Hayleys PLC has been oversubscribed for over Rs. 3 billion, the company announced in a disclosure to Colombo Stock Exchange (CSE) Tuesday.
The blue chip conglomerate said it has received application for over Rs.3 billion and accordingly the subscription will be closed by the end of the business day today (25th) at 4:30 p.m. as per the Prospectus.
The company initially issued 30 million debentures at Rs. 100, each, to raise Rs. 3 billion and kept the option open to sell a further 10 million debentures to increase the debt amount by another Rs. 1 billion, in the event of an over-subscription of the initial issue.