Lahore-based Software Firm Plans to Get Listed on PSX

Coeus Solutions Limited intends to raise $5 million by getting listed on the Growth Enterprise Market Board of the Pakistan Stock Exchange, reported Bloomberg. The Lahore-based company that builds and operates software for predominantly German clients is planning an initial public offering (IPO) for the next quarter, as reported by a financial daily. With the proceeds from the offering, Coes Solutions will look to sustain acquisitions and grow its software lineup for a wider target market in the near term. KTrade KASB Securities Ltd. is the financial adviser to the transaction. The offering comes at a time when Pakistani businesses are attracting record levels of investment. After losing out on previous tech booms in countries like India, the country is hoping to enhance its IT exports in two years by establishing designated technology zones and providing incentives. Pakistan’s interest in technology stocks is also growing alongside this development. The software company Systems Ltd. has outperformed the benchmark KSE-100 Index this year, according to Bloomberg statistics. Additionally, Octopus Digital Limited’s IPO was oversubscribed in 30 minutes, with offers for 27 times the number of shares on sale, which is the largest in the history of Pakistan. Coeus Solutions is a leading software development firm that was established in 2003. The company began with only 20 workers and a vision of delivering excellence in the IT industry. It currently operates in America, Asia, and Europe, and employs over 100 full-stack development experts who are well-versed in various technologies.