Material Information of Octopus Digital Limited

Karachi, Octopus Digital Limited informed Pakistan Stock Exchange that the company has secured a high value five-year IAAS (Infrastructure as a Service) contract on BTMI basis (Build, Train to Operate, Maintain and Improve). The Digitalization subscription will see the company provide supply and maintenance services to a major cement manufacturer in Pakistan.

The five-year contract marks Octopus Digital’s entry into the construction sector. Cement, a crucial ingredient of the Construction Sector, is experiencing a dramatic boom in Pakistan. The national local cement consumption is expected to have a CAGR of 7% till the year 2025 taking the local count to 65 million tons per annum. One challenge for cement manufacturers during this period of growth would be to control costs due to rapidly increasing coal prices.

Octopus Digital Limited was incorporated on 29th December, 2017 as a private limited company in Pakistan. Octopus is a wholly owned subsidiary of Avanceon Limited. The prime business of the Company is to carry out Information Technology enabled services which includes but are not limited to online data/information storage, online monitoring and review of employees efficiency, online monitoring of cost and production efficiency, online monitoring and maintenance of plant and machinery, sale and trade of related software and equipment etc.