Foreign funds to buy into Sri Lanka’s Hemas Holdings

COLOMBO (EconomyNext) – Foreign institutional funds will buy into Sri Lanka’s Hemas Holdings Plc, with key shareholders including members of the founding Esufally family not taking up new shares to be issued, the company said.

The company said in a stock exchange filing that Murtaza Esufally, Husein Esufally, Abbas Esufally, AZ Holding (Pvt) Ltd, Saraz Investments (Pvt) Ltd, Blueberry Investments Pvt Ltd. and Amagroup (Pvt) Ltd will not take up their entitlement of new shares.

Hemas said the shareholders had received "strong expressions of interest from reputed international investors and domestic investors" who want to buy new shares. Hemas is giving one extra share for every nine existing shares to raise 4.2 billion rupees. The group has interests in consumer goods, leisure and healthcare.