hSenid IPO opens today

The initial public offering (IPO) of software provider hSenid opens at 9.00 a.m. 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. 

The company offers over 55.3 million ordinary voting shares to the public at a price of Rs.12.50 per share, with the IPO aiming to raise approximately Rs.700 million. 

These funds are intended to be utilised to finance product development and market development, along with strategic acquisitions in the APAC and East Africa regions.