PCH IPO oversubscribed

PC House Limited (PCH) announced that its Initial Public Offering to issue 57,233,334 shares at the price of Rs 11 per share has been successfully oversubscribed on the opening hour of offering.

A strong demand in the market was witnessed given the extremely high growth expected in the ICT industry coupled with the fact that PCH, the premier ICT service provider, will be the first fully fledged IT Company that will be listed in the Colombo Stock Exchange.

PCH Chairman S.H.M. Rishan extended his gratitude towards all who placed their trust and confidence in the issue and take this opportunity to further reiterate our commitment to excellence. The company offered 25 percent of its total equity to raise a total of Rs 630 million through its IPO. Through the successful IPO, PCH plans to upgrade its BPO/ KPO operation, in addition to launching a state-of-the-art Internet Data Centre (IDC) Facility.