Octopus Digital Limited announced Thursday that it has incorporated a new wholly-owned subsidiary in the United Arab Emirates with the name Octopus Digital FZ-LLC.
In a notice to the Pakistan Stock Exchange (PSX), the company said that Octopus Digital FZ-LLC has been incorporated as a Free Zone Limited Liability Company under the Dubai Development Authority, with Commercial License Number 103074 with a business unit in Dubai Internet City.
The company said that UAE’s thriving business environment and strategic location makes it an ideal hub for Octopus Digital FZ-LLC to further enhance its global presence and deliver unparalleled value to its customers.
“The decision to establish a subsidiary in the United Arab Emirates aligns with Octopus Digital’s core values of innovation, customer-centricity, growth plan, and global expansion. By expanding its presence in this vibrant market, Octopus Digital aims to better serve the needs of its customers in the region and strengthen its position as a leading player in Industry 4.0 solutions,” it added.
Octopus Digital is a wholly-owned subsidiary of Avanceon Limited. The prime business of the company is to carry out information technology-enabled services which include but are not limited to online data/information storage, online monitoring and review of employees’ efficiency, online monitoring of cost and production efficiency, online monitoring and maintenance of plant and machinery, sale and trade of related software and equipment, etc.