Avanceon Limited has mandated BMA Capital Management Limited (BMA Capital) to lead a planned Initial Public Offering of its 100 percent wholly-owned subsidiary Octopus Digital (Pvt) Limited.
With this partnership, Octopus Digital (Pvt) Limited aims to tap into a large investor base to raise capital and provide Pakistan’s capital market an opportunity to invest in Smart Industries. Octopus Digital (Pvt) Limited is the result of three decades of experience and expertise within the Industrial Automation space.
As per the company's statement, the newly formed entity helps businesses digitalize their manufacturing, supply chain, and financial workflows backed by strategic and operational maintenance support services.
Octopus Digital (Pvt) Limited will have the distinction of being the first Industry 4.0 entity to go public in Pakistan. It shall be converted into a Public Limited Company in due course of time within the mandate.
Furthermore, it will also be the first technology company to go public in more than 5 years. Avanceon is an industrial automation consultation and system integration entity in Pakistan, Qatar, UAE, KSA, and United States.