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	161,281.77 321.60M	-0.93% -1521.39
ALLSHR	97,970.36 897.81M	-0.89% -882.05
KSE30	48,994.96 132.16M	-1.02% -502.39
KMI30	231,448.14 91.20M	-1.31% -3070.88
KMIALLSHR	63,889.05 388.38M	-0.96% -621.10
BKTi	45,037.73 48.43M	-1.45% -662.00
OGTi	31,025.58 8.22M	-1.53% -480.71

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	100,530.00	107,770.00 99,250.00	-6540.00 -6.11%
BRENT CRUDE	64.31	64.80 63.82	-0.58 -0.89%
RICHARDS BAY COAL MONTHLY	87.00	87.00 86.50	1.30 1.52%
ROTTERDAM COAL MONTHLY	97.30	97.75 97.10	1.05 1.09%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.43	61.03 59.94	-0.62 -1.02%
SUGAR #11 WORLD	14.21	14.72 14.13	-0.44 -3.00%