Coeus Solutions Ltd. announced today that it intends to have an initial offering of its common stock by Q1 of 2022 at the latest.
The initial offering is expected to initially take place on the GEM Board after the Pakistan Stock Exchange (PSX) completes its review process, and is subject to market and other conditions.
The company intends to use the proceeds to propel growth through the M&As in the local market, and the expansion and scaling of its products focused on its remote-work platform, Workhub.ai, which includes other employee-focused products.
Its co-founder, Ali Naqi Shaheen, said, “Coeus is primarily focused on enterprise software solutions,” and that “with our focus on remote work enablement, we believe Coeus is helping to resolve core customer and employee-centric problems many organizations around the world are facing in a post-pandemic world”.
Coeus Solutions has offices in Lahore and Berlin, and a combined team of over 90. Consistently maintaining net profitability of over 40 percent, over 30,000 users in Europe currently use its products.
Its CEO and co-founder, Muhammad Ahsan Naseem, explained, “Coeus has been a profitable company for many years. Our listing on the GEM board shows our ambition to rapidly accelerate our growth in the immediate future”.
“The GEM Board listing is only the first step towards listing on the mainboard in 2022. Building upon our experience of successful mergers and acquisitions, we believe the Pakistani tech scene is ripe for a consolidation play,” he added.
Coeus has engaged KTrade KASB Securities as a consultant for this listing. Ali Farid Khwaja, the Chairman of KTrade KASB Securities, remarked, “We are super excited by this GEM listing. Coeus has a very strong track record in the German market and with their focus on remote work enablement and M&As, they are one of the most exciting tech companies in Pakistan currently”.
Coeus Solutions Ltd. was established in 2008 in Munich, Germany, and Lahore, Pakistan, and has maintained a strong presence in and focus on the German market. It is the technology team behind the largest customer reviews and rating platform in Germany, with over 30,000 customers across Europe.
Its core foci are providing its clients with enterprise software solutions that are particularly focused on people engagement and creating remote-work enabling environments.