Hayleys proceeds with mandatory offer for Harischandra Mills as acceptance period opens

Hayleys PLC, the diversified conglomerate controlled by billionaire businessman Dhammika Perera, has formally dispatched the offer document to the shareholders of Harischandra Mills PLC, marking the official commencement of the acceptance period for its mandatory offer.

- By NISHEL FERNANDO

The offer was triggered by Hayleys’ acquisition of a 40.58 percent controlling stake in the Matara-based food manufacturer on October 17, 2025.

According to the offer document dated November 21, 2025, Hayleys is seeking to purchase the remaining 1,140,654 ordinary voting shares, representing 59.42 percent of the issued capital, at a price of Rs.3,300 per share. The acceptance window is now open and is scheduled to close at 4:30 p.m. on December 16, 2025. The total financial commitment for the offer, should it be accepted in full, amounts to approximately Rs.3.76 billion.