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Cooling Ardour

Aug 27, 2010 (LBO) - PC House, a Sri Lankan information technology company which debuted on the stock exchange this week, closed below its issue price of 11 rupees Friday, the second day of trading, brokers said.
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The share opened the day's trading at 10.
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90 rupees, went down to 9.90 and closed at 10.00 with some 2.2 million shares done for the day.
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When the firm debuted Thursday it was the most actively traded stock of the day and closed flat at 11 rupees, its issue price, after hitting a high of 14.70 rupees and a low of 10.90 rupees.

PCH had an initial public offer on August 5 to raise 630 million rupees by offering 57.

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2 million shares at 11 rupees each.

The IPO was oversubscribed on its opening day itself.

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PC House has said it is planning a 100-seat business process outsourcing centre in the island's northern Jaffna peninsular to provide accounting and back office services to the international market.


The company also has a firm revenue stream from computer hardware and software sales and setting up networks.


In the year to March 2010 the group earned 123.8 million rupees on revenues of 3.

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0 billion rupees with 171.7 million shares getting 72 cents of earnings per share.
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