Lahore :  Avanceon Limited is going to offer its shares to general public through Book- Building process for which the company conducted IPO Road Show in the Auditorium of Lahore Stock Exchange Limited. Managing Director and Chief Executive Officer of LSE Mr. Aftab Ahmed Chaudhry was the chief guest.  Mr. Bakhtiar Hameed Wain, Chief Executive Officer of Avanceon Limited delivered the presentation before the TREC Holders and the market participants. Mr. Bakhtiar shared that Avanceon Limited (AVN) intends to issue 25.17mn shares, which constitute 25% of the post IPO paid up capital. The book building will be conducted on 27 and 28 November 2013 at a floor price of PKR14 per share.

Leading the automation industry AVN has strong clientele under its belt not only in Pakistan but also in the Middle East region. With ~80% of the local revenue hedged against the dollar, competitive outsourcing model (IX) providing cost advantage and diverse product/services, AVN is likely to unlock value from this IPO. At a floor price of PKR14, CY13E PE and PB stands at 3x and 0.8x respectively.