As part of an effort to raise at least Rs1.05 billion at the Pakistan Stock Exchange (PSX), a tech company that mostly creates software for international markets will be selling 16.67 percent of its shares to people and institutions next week. It’s expected that Coeus Solutions Limited will begin bidding on Monday for up to 5 million shares at a minimum (floor) price of Rs210 per. There will be a three-day auction (book-building procedure) that concludes on Wednesday. Shares won auctions will later be traded on the growth enterprises market (GEM) board, a more volatile trading platform than the PSX’s mainboard. PSX stated that “Tech was the best performing sector in 2021.” A modest 6.38 percent of the KSE-100 index, demonstrating the possibility for future listings, is the case with this company.” Due to the global and domestic political and economic volatility that prevailed at the time, the business originally postponed its IPO to March. A merger and acquisition plan to purchase already operational firms (software as a service/ SaaS) in Pakistan is the major goal of the Rs1.05 billion capital raise, according to the company’s information memorandum, which is available on the PSX website. Coeus Solutions GmbH, a German subsidiary of the company, serves as the company’s full product team for a select client. There are presently more than 30,000 users in more than 40 countries using the goods of these prominent European enterprises, according to the memorandum. At $1.8 billion in the previous fiscal year (a five-year CARG of 26 percent), Pakistan’s IT exports accounted for nearly half of Pakistan’s total export revenue. Only 2pc of Pakistan’s IT exports are traceable to Germany, according to Coeus Solutions GmbH, which operates in Germany. Germany is expected to be a $100 billion market in 2021. When asked about future mergers and acquisitions in Pakistan, it stated that the company had no plans to use outside capital. Due to the tremendous demand from already existing IT organizations and startups, IT resources are scarce, making it tough to develop teams and create products from scratch. Because of this, the company wants to acquire an already-existing business in Pakistan and then offer its products to German customers, it added. During the first six months of the current fiscal year, Coeus Pakistan and its German subsidiary achieved a profit-after-tax of Rs130.4 million. After a loss of Rs113.5 million the year before, they made a profit of Rs173.3 million in the fiscal year that concluded on June 30, 2021, according to the memorandum. There have been four GEM listings since the specialized market was established roughly a year ago, making this the most recent. In addition, three or four other businesses have expressed an interest in being included in the directory. The PSX GEM board lists them in different phases of development. According to him, PSEB has just chosen AKD Securities as its lead manager to get the first eight tech businesses listed on the GEM board, in addition to several other recent developments. It was previously agreed that at least 40 tech firms will be available on the GEM board under a Memorandum of Understanding (MoU). Then, he claimed that around eight tech businesses haven’t yet applied for the listing.