Berlitz will be listed on the Growth Enterprise Market board

According to Cordoba Logistics and Ventures Ltd (CLVL) Chairman Zeeshan Afzal, “Language-teaching institute Berlitz Pakistan” is getting ready to list on the Growth Enterprise Market (GEM) counter of the Pakistan Stock Exchange (PSX) within the next two years.

According to a recent regulatory filing, CLVL is investing Rs30 million to acquire a 30% ownership in Berlitz Pakistan.

Previously known as Mian Textile Industries Ltd, publicly traded CLVL switched to logistics and startup financing last year. Trukkr, an online learning portal, Investors Lounge, and Cotton Candy, a manufacturer of children’s clothes, are its other startup investments.

“We like to invest in ed-tech. Berlitz was very profitable in the pre-pandemic years. Corporate trainings came to a halt in Covid-19. But things are coming back to normal now as more and more corporate entities are going for employee training and development programmes,” said Mr Afzal.

Although he would not provide Berlitz with revenue or profit figures, he did admit that its business had decreased to only half of what it had been before Covid. “In the upcoming years, we project a growth of four to five times. Referring to the recently established listing counter that’s dedicated to emerging, riskier businesses with significant growth potential, he said that putting it on the GEM board will give investors a fantastic opportunity to participate in ed-tech.