On Friday, Universal Network Systems Ltd (UNSL) announced that a fintech company ABHI Ltd has acquired a 10% shareholding in the logistics firm operating as BlueEX. The acquiring party, ABHI Ltd, is a startup specializing in earned wage access, payroll solutions, and invoice factoring, a process involving the sale of accounts receivable control.
Salman Hameed, the Chief Financial Officer of UNSL, declined to disclose the exact magnitude of the transaction in an interview with Dawn. However, based on the prevailing share price of Rs61.50 per share, the estimated value of the transaction would be approximately Rs168.6 million. Currently, UNSL holds a market valuation of Rs1.68 billion.
UNSL is one of the three companies listed on the Growth Enterprise Market (GEM) counter of the Pakistan Stock Exchange. GEM serves as a platform reserved for smaller and higher-risk businesses, providing them with a space to trade and grow.
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