Dilith, Nimal buy 5% stake in PCH

Indunil HEWAGE

PCH Chairman SHM Rishan has sold a five percent stake in the company to Dilith Jayaweera and Nimal Perera. The five percent stake made up of 10 million shares was sold at Rs 20 a share.

PCH offers computers and accessories, office automation, audiovisual equipment, printing solutions, software solutions and consumer electronics and other IT related products to Sri Lankan customers for a long time.

Recently, Finco Group also sold its 51 percent controlling stake in Orient Garments Limited to PCH Holdings for Rs 600 million. The 51 percent stake made up of 28.5 million shares sold at Rs 21.50.

At the moment PCH is on a massive expansion drive to expand its presence in Sri Lanka in keeping with its Initial Public Offering(IPO). PCH will expand its 100 seat BPO facility in Colombo upto a 1,000 seat BPO facility before the end of 2012 with a Rs 300 million investment.

The company has 35 showrooms and will inject Rs 50 million to set up five branches within this year.