NDBIB expands global footprint by debuting in Africa
View(s):NDB Investment Bank recently made inroads into the African Region by acting as the exclusive Financial Advisor and Manager to the transaction of Hela Apparel Holdings PLC.
NDBIB arranged a US$14 million 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, the bank said in a media release.
“NDB Group has been an important partner to Hela for a number of years and has been a reliable source of support throughout our journey. This transaction with Norfund marks another crucial milestone for both parties and lays a strong foundation for the future of our African operations,” said A. R Rasiah, Chairman, Hela Apparel Holdings PLC.
Darshan Perera, CEO of NDBIB said: “Norfund is a key shareholder of our 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. We are extremely grateful to Norfund for coming forward during these challenging times both locally and from a global standpoint and hope to work with them closely going forward.”
NDBIB, through its group company in Bangladesh, NDB Capital Ltd, established its footprint in the Asian region a decade ago and has offered its expertise to corporates in Bangladesh as well as advisory services to Sri Lankan corporates establishing in Bangladesh.
“NDBIB has always been a leader in innovation, be it introducing of 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,” said Senaka Kakiriwaragodage, CEO of NDB Capital Holdings, the parent Company of NDBIB.
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