NDB Investment Bank made inroads into the African Region by acting as the exclusive Financial Advisor and Manager to the recently concluded transaction of Hela Apparel Holdings PLC arranging a USD 14 Mn fund raising via Norfund directly to Hela’s investment holding company earmarked for its operations in the African Region.
The funds raised will be used to strengthen Hela’s supply chain partnerships in East Africa, particularly in Kenya and Tanzania. Darshan Perera, CEO of NDBIB stated, “NDBIB is no stranger to working with the DFI community and has built strong bonds with such institutions over the last 25 plus years. Norfund is a key shareholder of our ultimate parent, NDB Bank, and we were able to leverage on our relationship with them to ensure the fund raising for Hela was a resounding success.”
“NDBIB has always been a leader in innovation, be it introducing new products to the capital market or entering new markets and geographies. NDBIB has lived up to that expectation by debuting in Africa with the Hela fund raising and continuously looking into other regional markets. We are happy to support Sri Lankan enterprises to establish a global footprint,” said Senaka Kakiriwaragodage, CEO of NDB Capital Holdings, the parent Company of NDBIB. NDBIB intends to proactively pursue market opportunities in South Asia and in the East African Region.
“In addition to our base in Bangladesh and the Maldives, through this transaction we were able to penetrate Africa And NDBIB intends to consistently build relationships with parties in the African region to offer our services as part of our long-term strategy.
We are extremely pleased at how this endeavour has been shaping up so far and are looking to close more transactions in the near future” stated Kaushini Laksumanage, Chief Operating Officer of NDBIB.
CEO, NDBIB Darshan Perera and COO, NDBIB, Kaushini Laksumanage, AIA Group Limited, announcing their Group’s financial results for the year ended December 31, 2022 said its Value of new business (VONB) was US$3,092 million for the full-year 2022 grewing by 6% in the second half as the effects of the initial Omicron wave subsided.