New Entrant

Aug 23, 2010 (LBO) – PC House, a tech company which completed an Initial Public Offering earlier this month, is to start trading on August 26, 2010, a stock exchange filing said.

PC House will be listed under the main board of the Colombo Stock Exchange and will be classified under the IT (information technology) sector, the release said.

The company’s shares would be traded under the security code of PCH-N-000.

A total number of 228.93 million shares will be listed with a float under 25 percent.

On August 05, PC House offered 57 million shares (25 percent) at 11 rupees in an IPO.

The group’s chairman S H M Rishan, a former sailor who founded the business 13 years ago in an electronic business hotspot in the heart of Colombo, has transformed the company to three billion rupees business entity.

The firm is raising fresh capital to retire some expensive short-term debt and start a BPO (business processing outsource) operation in Jaffna district, the country’s former war-torn northern capital.

PC House group is the one of the main dealers in Sri Lanka for Dell computers. The other is Softlogic Computers which is also planning an IPO.