KARACHI: The Securities 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 percent wholly owned subsidiary of Avanceon Limited, under sub-section (2) of Section 87 read with sub-section (1) of Section 88 of the Securities Act, 2015, has been approved by the SECP and the PSX to issue, circulate and publish the Prospectus for Initial Public Offering (IPO) of 27.350 million ordinary shares by Octopus Digital Limited (Company/Issuer/Octopus) to the institutional investors, high net worth individuals and the general public.

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.

Copyright Business Recorder, 2021