Publicly listed technology company in Pakistan
Avanceon Limited is a Pakistani technology company headquartered in Lahore.
Avanceon subsidiaries include Avanceon FZE Dubai, Avanceon Automation &amp; Control W.L.L Qatar, Octopus Digital, and Avanceon Saudi for Energy Co. WLL.
History.
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. Avanceon was converted to a public company in 2008. Engro Corp. divested its shareholding in Avanceon in 2012.
In 2014, Avanceon was listed on the Karachi Stock Exchange, following an initial public offering at a strike price of PKR 14.
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