GEMUNSL acquires Universal Freight Systems

MG News | June 27, 2023 at 12:48 PM GMT+05:00

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June 27, 2023 (MLN): Universal Network Systems Limited (PSX: GEMUNSL) has acquired 100% of the issued and paid-up share capital of its associated company i.e., Universal Freight Systems (Private) Limited, the company's filing on PSX noted.

This development is in accordance with the terms and conditions specified in Share Purchase Agreement (SPA).

The principal activities of the company are to act as a cargo forwarder and provide domestic and international courier and allied services.

At the time of writing, the scrip of the company is being traded at Rs61.5, down by 2.38% since its previous close.

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