Universal Network System to acquire majority stake in Pakistan’s ecommerce logistic company

MG News | June 06, 2022 at 11:08 AM GMT+05:00

0:00

June 6, 2022 (MLN): Universal Network Systems Limited (PSX: GEMUNSL) has entered into a nonbinding agreement for the acquisition of a majority stake in an eCommerce logistics & fulfillment company in Pakistan.

The company has commenced due diligence and will communicate the name of the target company subject to a binding agreement post successful due diligence of the target company.

Universal Network Systems Limited or Blue Ex is a company involved in core logistics, e-commerce logistics, warehousing, and relevant e-commerce & logistics operations.

It is the first company in the e-commerce logistics sector to be listed on the PSX GEM board.

The GEM board is a listing platform created to facilitate growth enterprises, whether small, medium, or greenfield businesses, for their capital raising needs.

At present, the scrip of the company is being traded at Rs50.62, down by 0.18% DoD.

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