Pakistan Technology_COEUS Pakistan IPO_Subscribe, (AKD Daily, May 06, 2022)
AKD Daily
Pakistan Technology: COEUS Pakistan IPO - Subscribe
- COEUS Pakistan’s book building is expected to take place from 9th May’22 to 11th May’22 where company is offering 5mn shares at a floor price of PkR210/sh. The main purpose of the issue is to grow its existing products while also carrying out M&A activities to consolidate its position.
- COEUS is a technology company which offers its services in Germany mainly with the help of its distributor, COEUS GmbH. COEUS GmbH will transfer revenue to COEUS Pakistan after charging a cost+8% margin on the services being offered.
- COEUS Pakistan has recently launched its own products (Vidmonials and Workhub) which have witnessed significant success recently with the ARR already standing at USD245k as of Mar’22. Apart from these products already being the mainstay for 166% revenue CAGR for FY22-25, venture capital is expected to be raised in near future for both the products which can provide further uplift to company’s valuation.
- With 3yr PEG standing at ~0.1x against 0.6-0.8x being offered by other high growth technology companies currently listed at the bourse, we adopt a Subscribe stance for the stock where continued growth in products will drive the revenue growth forward while M&A growth will aid in improving human resource capacity.
AKD Research
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.