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Pakistani Software Firm Coeus Solutions Plans IPO Next Quarter

  • Germany-focused firm plans to use funds for acquisitions: CEO
  • Technology companies are seeing increased interest in Pakistan

Pakistan’s Coeus Solutions Ltd., which develops and manages software for mostly German clients, plans an initial public offer next quarter as appetite for technology stocks in the South Asian country grows.

The Lahore-based company plans to raise $5 million by listing on the Pakistan Stock Exchange’s Growth Enterprise Market Board, Chief Executive Officer Muhammad Ahsan Naseem said. The company, which has a second office in Berlin, caters to 30,000 businesses in Germany including Audi AG and Allianz SE.