- A first for Sri Lanka’s IT/BPM sector
The IPO for Sri Lankan multinational software solutions provider hSenid opens today aimed at raising Rs. 691 million.
Managed jointly by NDB Investment Bank and CT CLSA Capital, hSenid marks Sri Lanka’s first-ever IT/BPM public equity issuance, allowing the public to invest in a whole new sector of the economy, and potentially Sri Lanka’s most promising sector for future growth.
According to the Joint Managers to the issue, hSenid’s IPO is expected to draw active interest from a diverse spectrum of both local and foreign investors, including institutions and high net-worth individuals (HNWIs), along with significant interest from retail investors.
IPO entails 55.4 million ordinary voting shares of hSenid Business Solutions at Rs. 12.50 each. Funds raised will be to finance product development and market development, along with strategic acquisitions in the APAC and East Africa regions.