Universal Network System to form subsidiary for international express courier

MG News | July 13, 2022 at 10:00 AM GMT+05:00

0:00

July 13, 2022 (MLN): The board of directors of Universal Network Systems Limited (PSX: GEMUNSL) has approved the formation of a wholly-owned local subsidiary to partner with global logistics/courier networks for international express courier and other kinds of similar services, the company’s filing on the bourse said today.

This formation of a local subsidiary (private limited company) to partner with global logistics was mentioned in the Memorandum of Association of the Company for Europe and other major destinations which can feed inbound/outbound business.

However, it is subject to all applicable regulatory approvals. the notice said.

To note, on June 06, 2022, the company informed that it entered into a nonbinding agreement for the acquisition of a majority stake in an eCommerce logistics & fulfillment company in Pakistan.

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

At present, the scrip of the company is trading at Rs49.98 [9:44 PST], up by Rs2.32 or 4.87% DoD.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	148,617.78 624.60M	0.86% 1274.27
ALLSHR	91,685.08 1,340.28M	0.74% 669.39
KSE30	45,247.79 197.43M	0.83% 370.74
KMI30	212,370.79 224.51M	1.05% 2209.48
KMIALLSHR	61,227.89 711.87M	1.18% 715.56
BKTi	41,264.02 160.39M	0.54% 221.73
OGTi	30,019.10 23.63M	0.64% 190.41

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,265.00	113,390.00 108,020.00	-4475.00 -3.97%
BRENT CRUDE	67.46	67.94 67.29	-0.52 -0.76%
RICHARDS BAY COAL MONTHLY	88.70	88.70 88.70	-0.75 -0.84%
ROTTERDAM COAL MONTHLY	96.15	96.75 96.00	-0.40 -0.41%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	64.01	64.55 63.88	-0.59 -0.91%
SUGAR #11 WORLD	16.34	16.52 16.33	-0.14 -0.85%