Coasin shoots for stock exchange listing in 10 years

- Monday, April 25, 2011

Coasin shoots for stock exchange listing in 10 years

Chilean IT group Coasin aims to be listed on the local bourse within the next 10 years, newspaper Diario Financiero quoted company CEO Raúl Ciudad as saying.

Coasin is hoping for revenue increase by changing its main source of income from IT services to being a supplier of intellectual property, he said.

Currently, intellectual property represents only 2% of the company's total revenue of US$95mn, which comes from domestic operations as well as units in Canada, Costa Rica, Argentina and Peru. About half of sales come from services.

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The firm wants to partner with universities to combine consultancy with R&D and create exportable intellectual property. Until last year Coasin did not have a strategic plan to achieve this goal, but Ciudad believes that the company's innovative corporate culture will now help the firm achieve its target.