ABHI Private Limited (ABHI) has acquired an equity stake in Universal Network Systems Limited (PSX: GEMUNSL), operating under the brand name BlueEX.
In a notice to the Pakistan Stock Exchange on Friday, the company said ABHI has acquired an equity stake comprising 2,742,000 shares of the courier firm.
This comes after BlueEX in March 2023 announced that the advance-salary startup would buy equity in the company. In November last year, UNSL first announced that it received an offer from a fintech firm for the acquisition of a 20 percent stake in the company.
Universal Network Systems has been operating in Pakistan since 2005. However, in 2011, the company shifted its focus toward e-commerce logistics and launched country-wide operations with the first Cash-On-Delivery (COD) shipment conducted in Pakistan under the Blue-EX brand.
The company is Pakistan’s only fully integrated standalone e-commerce logistics player providing services covering the entire value chain of e-commerce transactions from first-mile logistics to last-mile delivery.
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