The IPO for Sri Lankan multinational software solutions provider, hSenid, opens at 9.00am today.
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.
55,339,076 ordinary voting shares of hSenid Business Solutions Limited are on offer to the public at a price of LKR 12.50 per share, with the IPO aiming to raise approximately LKR 700 million in equity capital for the company.
These funds are intended to finance product development and market development, along with strategic acquisitions in the APAC and East Africa regions.