SECP, PSX approve listing application of Octopus Digital Limited

By MG News | August 06, 2021 at 12:06 PM GMT+05:00

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August 06, 2021 (MLN): The Security and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange (PSX) have approved the listing application of Octopus Digital Limited.

Octopus Digital, a 100% wholly-owned subsidiary of Avanceon Limited, under sections of the Securities Act 2015, has been approved by the SECP and PSX to issue, circulate and publish the Prospectus for Initial Public Offering (IPO) of 27.350 million ordinary shares by Octopus Digital Limited to the institutional investors, high net worth individuals and the general public.

According to the notice issued to PSX, Avanceon Limited has selected BMA Capital as its sole financial consultant/advisor for the planned Initial Public Offering of its wholly-owned subsidiary Octopus Digital (Pvt) Limited. The Octopus Digital IPO will be the first technology IPO in more than seven years.

The Prospectus issuance/Book Building/and Retail IPO dates of Octopus Digital shall be announced subsequently, the notice said.

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