AGL 38.78 Decreased By ▼ -0.72 (-1.82%)
AIRLINK 194.29 Increased By ▲ 17.66 (10%)
BOP 10.84 Increased By ▲ 0.75 (7.43%)
CNERGY 6.87 No Change ▼ 0.00 (0%)
DCL 10.19 Increased By ▲ 0.26 (2.62%)
DFML 43.13 Increased By ▲ 0.39 (0.91%)
DGKC 96.61 Decreased By ▼ -1.56 (-1.59%)
FCCL 38.07 Decreased By ▼ -1.24 (-3.15%)
FFBL 81.43 Decreased By ▼ -0.43 (-0.53%)
FFL 14.03 Decreased By ▼ -0.36 (-2.5%)
HUBC 118.98 Decreased By ▼ -2.46 (-2.03%)
HUMNL 14.77 Decreased By ▼ -0.57 (-3.72%)
KEL 5.74 Increased By ▲ 0.08 (1.41%)
KOSM 8.49 Increased By ▲ 0.37 (4.56%)
MLCF 46.54 Decreased By ▼ -1.57 (-3.26%)
NBP 77.23 Increased By ▲ 1.41 (1.86%)
OGDC 194.78 Decreased By ▼ -2.63 (-1.33%)
PAEL 34.74 Increased By ▲ 2.36 (7.29%)
PIBTL 8.38 Increased By ▲ 0.23 (2.82%)
PPL 174.57 Decreased By ▼ -0.93 (-0.53%)
PRL 33.17 Decreased By ▼ -0.92 (-2.7%)
PTC 24.57 Increased By ▲ 2.23 (9.98%)
SEARL 110.04 Increased By ▲ 6.84 (6.63%)
TELE 8.90 Increased By ▲ 0.39 (4.58%)
TOMCL 34.83 Decreased By ▼ -0.20 (-0.57%)
TPLP 11.69 Increased By ▲ 0.43 (3.82%)
TREET 18.56 Decreased By ▼ -0.59 (-3.08%)
TRG 60.06 Increased By ▲ 1.50 (2.56%)
UNITY 36.49 Increased By ▲ 1.63 (4.68%)
WTL 1.75 Increased By ▲ 0.16 (10.06%)
BR100 11,701 Increased By 49.8 (0.43%)
BR30 35,411 Decreased By -67.2 (-0.19%)
KSE100 109,054 Increased By 815 (0.75%)
KSE30 33,849 Increased By 155.6 (0.46%)

KARACHI: COEUS Pakistan’s book building is expected to take place from May 09 to May 11, 2022 where the company is offering 5.0 million shares at floor price of Rs 210/share.

The main purpose of the issue is to grow its existing products while also carrying out M&A activities to consolidate its position.

COEUS Pakistan is a technology company incorporated in 2013 and acts as a supplier for COEUS GmbH which is responsible for handling contracts and billings from clients in Europe.

The Company essentially acts as a product team for its clients in Germany however recently COEUS has launched its own SaaS solution by the name of Vidmonials and Workhub, AKD Securities research report said. Vidmonial is a video review platform whereby customers can place video reviews of products/services and it is being offered to 30,000 plus customers of eKomi, it added.

The research report said that another product is Workhub which is an all encompassing solution for remote work and is also compatible with other platforms.

The company is offering 5.0 million shares at a base price of Rs 210/share and intends to raise Rs 1.0 billion. Offering will be new issue and will take post issue number of shares to 30mn from 25mn currently.

The main purpose for the IPO is to grow the products (Vidmonials and Workhub) while also carry out merger and acquisition (M$A) activity. With regards to M&A activity, first merger is expected to be closed by FY23. While to grow its products, company will mainly be focusing on expanding sales and marketing team.

COEUS’s topline has grown with a CAGR of 18 percent for past three years and stood at Rs 197 million where the growth has only been driven by providing services to its German partner with major client being eKomi, followed by 4ART.

COEUS plans to shift its focus towards its own SaaS platforms, Vidmonials and Workhub which is expected to be the main contributor to revenue growth of 166 percent over next three year. Products have already shown significant growth during nine months of FY22 with 11 additional clients brought onboard in third quarter of FY22, taking total clients to 23 while ARR of products has reached $240,000 plus.

Revenue of Workhub is expected to post a CAGR of 338 percent for FY22-25, taking revenue from the product to Rs 2.7 billion by FY25 from Rs 32.4 million for FY22. For Vidmonials, company expects revenue growth of 795 percent for FY22-25 to Rs 274 million for FY25 against Rs 0.4 million for FY22.

Copyright Business Recorder, 2022

Comments

Comments are closed.