Avanceon

Last updated

Avanceon Limited
FormerlyInnovative Automation and Engineering Ltd (IAEL)
Company type Public
PSX:  AVN
KSE 100 component
ISIN PK0107501014
Industry Information technology
Founded2003;21 years ago (2003)
FounderBakhtiar Hameed Wain
HeadquartersThe Avanceon Building, Main Multan Road, Lahore
Area served
 Pakistan, Qatar, United Arab Emirates, Saudi Arabia, United States, Kazakhstan [1]
Key people
Bakhtiar Hameed Wain (CEO)
Khalid Hameed Wain (Chairman)
Number of employees
246 (2022) [2]
Subsidiaries Avanceon FZE Dubai, Avanceon Automation & Control W.L.L Qatar, Octopus Digital
Website avanceon.ae

Avanceon Limited is a Pakistani technology company headquartered in Lahore and active in the industrial automation space. [3] [4]

Contents

Avanceon's activities are to trade products of automation and control equipments to provide related technical services. [3]

Avanceon subsidiaries include Avanceon FZE Dubai, [5] [6] Avanceon Automation & Control W.L.L Qatar, [7] Octopus Digital, [8] and Avanceon Saudi for Energy Co. WLL. [9]

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. [10] Avanceon was converted to a public company in 2008. [11] Engro Corp. divested its shareholding in Avanceon in 2012. [10]

In 2014, Avanceon was listed on the Karachi Stock Exchange, following an initial public offering at a strike price of PKR 14. [10]

Subsidiaries

Related Research Articles

Bank Alfalah Limited, formerly known as Habib Credit and Exchange Bank, is a Pakistani commercial bank headquartered in Karachi. It is a subsidiary of an Emirati conglomerate, Abu Dhabi United Group.

<span class="mw-page-title-main">BankIslami</span> MetaSol Ecom Business Consultant Islamic State Bank

BankIslami Pakistan LTD. is a Pakistani Islamic bank based in Karachi, Pakistan. It has 400+ branches in 150 cities in Pakistan.

<span class="mw-page-title-main">United Bank Limited</span> Pakistani commercial bank

United Bank Limited (UBL) (Urdu: یونائیٹڈ بینک) is a Pakistani commercial bank headquartered in Karachi. It is a subsidiary of British multinational conglomerate, Bestway Group.

<span class="mw-page-title-main">Hub Power Company</span> Electric power company in Pakistan

The Hub Power Company Limited, colloquially known as Hubco, is a Pakistani power company based in Karachi, Sindh. It was the first independent power producer (IPP) to establish in Pakistan and as of 2024 is the largest IPP with a combined installed power generation capacity of 3,581 MW. The revenue of the company is United States Dollars denominated.

<span class="mw-page-title-main">Jahangir Siddiqui & Co.</span>

Jahangir Siddiqui & Co. is a Pakistani financial services company, founded in 1971 by Jahangir Siddiqui, and is based in Karachi, Pakistan. The company controls and operates financial services companies in Pakistan.

<span class="mw-page-title-main">PTCL</span> Pakistani telecommunication company

Pakistan Telecommunication Company Ltd., commonly known as PTCL is the national telecommunication company in Pakistan. PTCL provides telephone and internet services nationwide and is the backbone for the country's telecommunication infrastructure. The corporation manages and operates around 2000 telephone exchanges across the country, providing the largest fixed-line network. Data and backbone services such as GSM, HSPA+, CDMA, LTE, broadband internet, IPTV, and wholesale are an increasing part of its business.

The KSE-30 Index is a stock market index which tracks the performance of the top 30 most liquid companies listed on the stock exchanges in Pakistan. The index is based on a free float methodology in differentiation to other indices based of paid-up capital.

<span class="mw-page-title-main">WorldCall</span>

WorldCall Telecom Limited is a Pakistani telecommunication and multimedia service provider based in Lahore, Pakistan. It is listed on the Pakistan Stock Exchange.

<span class="mw-page-title-main">Engro Corporation</span> Publicly listed conglomerate in Pakistan

Engro Corporation (Engro) is a Pakistani conglomerate headquartered in Karachi.

<span class="mw-page-title-main">Dawood Hercules Corporation</span> Publicly listed company in Pakistan

Dawood Hercules Corporation Limited is a Pakistani publicly listed investment and holding company headquartered in Karachi. It operates its subsidiary Engro Corporation.

<span class="mw-page-title-main">FrieslandCampina Engro Pakistan</span> Pakistani subsidiary of a foreign company

FrieslandCampina Engro Pakistan Limited (FCEPL) is a Pakistani dairy products company which is a subsidiary of Dutch multinational cooperative FrieslandCampina. It is based in Karachi, Pakistan.

<span class="mw-page-title-main">Pakistan Stock Exchange</span> Pakistani stock exchange

The Pakistan Stock Exchange (PSX), founded as Karachi Stock Exchange (KSE), is a stock exchange in Pakistan with trading floor on I. I. Chundrigar Road in Karachi. PSX was classified by MSCI as a frontier market on 8 September 2021.

<span class="mw-page-title-main">Nishat Group</span> Pakistani conglomerates

Nishat Group is a group of companies headquartered in Lahore, Pakistan. The company was founded by Pakistani business magnate Mian Muhammad Yahya in 1951. Mian Muhammad Mansha is the current chairman of the group.

<span class="mw-page-title-main">Nishat Chunian</span> Pakistani textile company

Nishat Chunian Limited is a Pakistani vertically integrated textile company based in Lahore. It is listed on the Pakistan Stock Exchange and is one of the largest textile company of Pakistan.

<span class="mw-page-title-main">NetSol Technologies</span> American software company

NetSol Technologies Inc. is an American software company which makes automobile leasing software. It is based in Calabasas, California, United States.

Engro Fertilizers is a Pakistani fertiliser manufacturing company headquartered in Karachi with its manufacturing facility located at Daharki, and a facility located at Port Qasim as well. It is a subsidiary of Engro Corporation. It has 35% market share of the Pakistani fertilizer market as of 2023.

Engro Polymer & Chemical Limited (EPCL) is a Pakistani polymer manufacturing company based in Karachi, Pakistan. It is a subsidiary of conglomerate the Engro Corporation. The company has more than 70 percent local market share.

Systems Limited (SYS) is a Pakistani multi-national public technology company, involved in mortgage, apparel, retail and BPO services. Systems is the parent company of the Techvista Systems, Systems Arabia, Systems Misr (Egypt) and Techvista Qatar (Qatar), NdcTech. It has a market capitalisation of around US$441 million as of June 2023.

The PSX Dividend 20 Index is a stock index acting as a benchmark to compare prices on the Pakistan Stock Exchange (PSX) over a period. PSX Dividend 20 Index benchmark top 20 dividend paying companies at PSX based on the last 12-month dividend yield.

Unity Foods Limited, formerly known as Taha Spinning Mills, is a Pakistani food company headquartered in Karachi. It is a subsidiary of Singaporean multinational company, Wilmar International.

References

  1. ↑ Tariq, Umer (21 March 2023). "Avanceon Secures First Project in Caspian Region". ProPakistani. Retrieved 24 July 2023.
  2. ↑ "Annual Report 2022" (PDF). Avanceon Ltd. April 2023. Retrieved 16 July 2023.
  3. 1 2 "ANV - Stock quote for Avanceon Limited". Pakistan Stock Exchange (PSX). Retrieved 16 July 2023.
  4. ↑ Shahnawaz, Hamza (26 July 2022). "Avanceon partners to upgrade fertilizer company". Pkrevenue.com. Retrieved 24 July 2023.
  5. ↑ "AVN sells partnership interest in Avanceon LP to Octopus Digital for $1.5mn". Mettis Global Link. 13 April 2023. Retrieved 24 July 2023.
  6. ↑ "Avanceon signs $3.6m contract with Dubai Metro". DAWN.COM. 2 September 2021. Retrieved 24 July 2023.
  7. ↑ "Avanceon's subsidiary awarded major municipality contract in Qatar". Profit by Pakistan Today. 5 July 2023. Retrieved 24 July 2023.
  8. ↑ "Avanceon subsidiary Octopus Digital to go public". Profit by Pakistan Today. 11 October 2020. Retrieved 24 July 2023.
  9. ↑ "Avanceon selected to execute Masjid Al-Haram expansion project in Makkah". Mettis Global Link. 21 February 2022. Retrieved 24 July 2023.
  10. 1 2 3 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.
  11. ↑ "Avanceon Limited". Business Recorder. 12 June 2023. Retrieved 24 July 2023.
  12. ↑ Hassan, Taimoor (16 October 2022). "The rising Octopus". Profit by Pakistan Today. Retrieved 16 July 2023.
Factory.svg

This Pakistani corporation or company article is a stub. You can help Wikipedia by expanding it.

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.