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{{short description|Publicly listed technology company in Pakistan}}
{{Use British English|date=July 2023}}
{{Use British English|date=July 2023}}
{{Use dmy dates|date=July 2023}}
{{Use dmy dates|date=July 2023}}

{{Infobox company
{{Infobox company
| name = Avanceon Limited
| name = Avanceon Limited
| former_name = Innovative Automation and Engineering Ltd (IAEL)
| logo =
| logo = Avanceon logo.png
| logo_size =
| logo_size =
| type = [[Public company|Public]]
| type = [[Public company|Public]]
| traded_as = {{karse|AVN}}
| traded_as = {{karse|AVN}} <br/> [[KSE 100 Index|KSE 100]] component
| ISIN = {{ISIN|sl=n|pl=y|PK0107501014}}
| ISIN = {{ISIN|sl=n|pl=y|PK0107501014}}
| foundation = {{start date and age|2003}}
| foundation = {{start date and age|2003}}
| industry =
| founder = Bakhtiar Hameed Wain
| industry = [[Information technology]]
| area_served = Pakistan, Qatar, United Arab Emirates, Saudi Arabia, United States
| area_served = [[Pakistan]], [[Qatar]], [[United Arab Emirates]]
| key_people = Bakhtiar Hameed Wain <small>(CEO)</small><br>Khalid Hameed Wain <small>(Chairman)</small>
| key_people = Bakhtiar Hameed Wain <small>(CEO)</small><br>Khalid Hameed Wain <small>(Chairman)</small>
| products =
| products =
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| assets =
| assets =
| equity =
| equity =
| num_employees = 246 <small>(2022)</small><ref>{{cite web |title=Annual Report 2022 |url=https://www.avanceon.ae/wp-content/uploads/2023/05/AVN-Annual-Report-2022-20.05.2023.pdf |publisher=Avanceon Ltd. |access-date=16 July 2023 |language=en |date=April 2023}}</ref>
| num_employees = 246 <small>(2022)</small><ref name="AR22">{{cite web |title=Annual Report 2022 |url=https://www.avanceon.ae/wp-content/uploads/2023/05/AVN-Annual-Report-2022-20.05.2023.pdf |publisher=Avanceon Ltd. |access-date=16 July 2023 |language=en |date=April 2023}}</ref>
| location = The Avanceon Building, Main Multan Road, Lahore
| location = The Avanceon Building, Main Multan Road, Lahore
| subsid = Avanceon FZE Dubai, Avanceon Automation & Control W.L.L Qatar, Octopus Digital
| homepage = {{URL| https://www.avanceon.ae | avanceon.ae}}
| homepage = {{URL|avanceon.com}}
}}
}}
'''Avanceon Limited''' is a Pakistani technology company headquartered in [[Lahore]].<ref>{{cite news |title=ANV - Stock quote for Avanceon Limited |url= https://dps.psx.com.pk/company/AVN |access-date=16 July 2023 |work=Pakistan Stock Exchange (PSX)}}</ref>
'''Avanceon Limited''' is a Pakistani technology company headquartered in [[Lahore]].


Avanceon subsidiaries include Avanceon FZE Dubai,<ref>{{cite news |title=Avanceon signs $3.6m contract with Dubai Metro |url=https://www.dawn.com/news/1644020 |access-date=24 July 2023 |work=DAWN.COM |date=2 September 2021 |language=en}}</ref> Avanceon Automation & Control W.L.L Qatar,<ref>{{cite news |title=Avanceon's subsidiary awarded major municipality contract in Qatar |url=https://profit.pakistantoday.com.pk/2023/07/05/avanceons-subsidiary-awarded-major-municipality-contract-in-qatar/ |access-date=24 July 2023 |work=Profit by Pakistan Today |date=5 July 2023 |language=en}}</ref> Octopus Digital,<ref>{{cite news |title=Avanceon subsidiary Octopus Digital to go public |url=https://profit.pakistantoday.com.pk/2020/10/11/avanceon-subsidiary-octopus-digital-to-go-public/ |access-date=24 July 2023 |work=Profit by Pakistan Today |date=11 October 2020 |language=en}}</ref> and Avanceon Saudi for Energy Co. WLL.
Founded as a private limited company in 2003, converted to a public company in 2008, Avanceon's activities are to trade products of automation and control equipments to provide related technical services.


==History==
⚫
Avanceon “is the only listed company in Pakistan that offers industrial automation, electrical design, sterilization, project management, and consulting services, enjoying a near monopoly in this segment.”<ref>{{cite news |last1=Hassan |first1=Taimoor |title=The rising Octopus |url=https://profit.pakistantoday.com.pk/2022/10/16/the-rising-octopus/ |access-date=16 July 2023 |work=Profit by Pakistan Today |date=16 October 2022 |language=en}}</ref>
Founded in 1989 in Pakistan by Bakhtiar Wain as Innovative Automation and Engineering Ltd (IAEL), the company's majority stakes was acquired by [[Engro Corporation]] which merged it with Advanced Automation Associates (AAA) to eventually rebrand it as Avanceon.<ref name="Profit">{{cite news |last1=Hassan |first1=Taimoor |title=While PSX has a horrible year, one company more than doubled its share price |url=https://profit.pakistantoday.com.pk/2018/12/31/while-psx-has-a-horrible-year-one-company-more-than-doubled-its-share-price/ |access-date=24 July 2023 |work=Profit by Pakistan Today |date=31 December 2018 |language=en}}</ref> Avanceon was converted to a public company in 2008.<ref>{{cite news |title=Avanceon Limited |url=https://www.brecorder.com/news/40247260 |access-date=24 July 2023 |work=Business Recorder |date=12 June 2023 |language=en}}</ref> Engro Corp. divested its shareholding in Avanceon in 2012.<ref name="Profit"/>


In 2014, Avanceon was listed on the [[Karachi Stock Exchange]], following an [[initial public offering]] at a strike price of PKR 14.<ref name="Profit"/>
Avanceon operates across Pakistan and employs over 246 individuals.

==Subsidiaries==
⚫
* Octopus Digital<ref>{{cite news |last1=Hassan |first1=Taimoor |title=The rising Octopus |url=https://profit.pakistantoday.com.pk/2022/10/16/the-rising-octopus/ |access-date=16 July 2023 |work=Profit by Pakistan Today |date=16 October 2022 |language=en}}</ref>


==References==
==References==
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==External links==
==External links==
* {{Official website| https://www.avanceon.ae}}
* {{Official website| https://www.avanceon.com}}


{{KSE 100}}
{{KSE 30}}
{{KSE 30}}
{{Engro}}
{{Portalbar|Business and economics|Pakistan|Company}} {{coord|31.470921|N|74.240196|E|display=title}}
{{Portalbar|Business and economics|Pakistan|Company}}


[[Category:Engro Corporation]]
[[Category:2014 initial public offerings]]
[[Category:Companies based in Lahore]]
[[Category:Companies based in Lahore]]
[[Category:Companies listed on the Pakistan Stock Exchange]]
[[Category:Companies listed on the Pakistan Stock Exchange]]
[[Category:Pakistani companies established in 2003]]
[[Category:Pakistani companies established in 2003]]



{{Pakistan-company-stub}}
{{Pakistan-company-stub}}

Latest revision as of 00:29, 13 October 2024

Avanceon Limited
FormerlyInnovative Automation and Engineering Ltd (IAEL)
Company typePublic
PSX: AVN
KSE 100 component
ISINPK0107501014
IndustryInformation technology
Founded2003; 21 years ago (2003)
FounderBakhtiar Hameed Wain
HeadquartersThe Avanceon Building, Main Multan Road, Lahore
Area served
Pakistan, Qatar, United Arab Emirates
Key people
Bakhtiar Hameed Wain (CEO)
Khalid Hameed Wain (Chairman)
Number of employees
246 (2022)[1]
SubsidiariesAvanceon FZE Dubai, Avanceon Automation & Control W.L.L Qatar, Octopus Digital
Websiteavanceon.com

Avanceon Limited is a Pakistani technology company headquartered in Lahore.

Avanceon subsidiaries include Avanceon FZE Dubai,[2] Avanceon Automation & Control W.L.L Qatar,[3] Octopus Digital,[4] and Avanceon Saudi for Energy Co. WLL.

History

[edit]

Founded in 1989 in Pakistan by Bakhtiar Wain as Innovative Automation and Engineering Ltd (IAEL), the company's majority stakes was acquired by Engro Corporation which merged it with Advanced Automation Associates (AAA) to eventually rebrand it as Avanceon.[5] Avanceon was converted to a public company in 2008.[6] Engro Corp. divested its shareholding in Avanceon in 2012.[5]

In 2014, Avanceon was listed on the Karachi Stock Exchange, following an initial public offering at a strike price of PKR 14.[5]

Subsidiaries

[edit]
  • Octopus Digital[7]

References

[edit]
  1. ^ "Annual Report 2022" (PDF). Avanceon Ltd. April 2023. Retrieved 16 July 2023.
  2. ^ "Avanceon signs $3.6m contract with Dubai Metro". DAWN.COM. 2 September 2021. Retrieved 24 July 2023.
  3. ^ "Avanceon's subsidiary awarded major municipality contract in Qatar". Profit by Pakistan Today. 5 July 2023. Retrieved 24 July 2023.
  4. ^ "Avanceon subsidiary Octopus Digital to go public". Profit by Pakistan Today. 11 October 2020. Retrieved 24 July 2023.
  5. ^ a b c Hassan, Taimoor (31 December 2018). "While PSX has a horrible year, one company more than doubled its share price". Profit by Pakistan Today. Retrieved 24 July 2023.
  6. ^ "Avanceon Limited". Business Recorder. 12 June 2023. Retrieved 24 July 2023.
  7. ^ Hassan, Taimoor (16 October 2022). "The rising Octopus". Profit by Pakistan Today. Retrieved 16 July 2023.
[edit]
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