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Message: <blockquote data-quote="lkdood" data-source="post: 7899766" data-attributes="member: 92282">Sri Lanka's PC House, an information technology firm,  will raise 630 million rupees in an initial public offering (IPO) to  expand its IT enabled services business and product distribution,  officials said.                           PC  House is selling 57 million shares at 11 rupees in an initial public  offering that will open on August 05.   "We are investing about 50 percent of the proceeds in an internet data  centre and expanding BPO (business process outsourcing) and (knowledge  process outsourcing) services," PC House chairman Shaheedul Hijiry  Mohamed Rishan told LBO.  "About 20 percent of the money will be investment in expanding product  lines and distribution."  PC House has agencies like Dell, Samasung and over 30 computer  peripheral brands. It has a 150 seat BPO working for a government agency  and wants to set up an accounting services centre.  In the year to March 2010 the firm earned revenues of 3,034 million  rupees, up 15 percent from an year earlier, and group net profit of 120  million, Rishan said.  The firm has one fully owned subsidiary.  In April and May the group had posted revenues of 514 million rupees up  30 percent from a year earlier and net profits of 26 million rupees.                                 "The  government has taken a lot of initiatives, they have already started  spending, trying to bring IT to the village," says Dharshan Perera,  chief exeucutive of NDB Investment Bank that is helping take the firm  public.  "That initiative has created an opportunity for companies like PC  House."  Vajira Kulatilake who heads the investment banking cluster of the NDB  Bank says the firm is also going beyond hardware sales into IT  consultancy and networking.  PC House is also expanding its branches. At the moment it has 13  branches around Colombo and 15 outside.  It is planning about seven new branches including Nelliaday,  Kilinochchi, Mullativu and Mannar, north of the Island and Hambantota in  the south of the island.  Its Jaffna and Vavuniya branches are showing the fastest growth, Rishan  said.LBO</blockquote>

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