The board of directors of Universal Network Systems Limited has decided to switch the listing of the company from GEM Board to the Main Board of PSX, subject to approval from the relevant authorities, according to a stock filing.
The migration toward the main board will require to meet the paid-up capital requirement of PSX.
According to the regulation, if the paid-up capital of an SME exceeds Rs. 200 million or its equity, excluding surplus on revaluation of fixed assets exceeds Rs. 300 million, such SME shall, within twelve months of such increase, seek its listing on the main board of the Exchange.
Universal Network Systems and its logistic service BlueEX has been making staggering operational progress which is evident in the handsome growth in its profitability.
Despite the challenges on the economic front due to constant volatility in fuel prices, PKR-USD parity, and limited cross-border trade, the company is working persistently to improve operational efficiencies for better capacity utilization across all segments and enhance its footprints across all networks, both globally and domestically to strengthen its position of top logistics & courier partner in the country.
New Subsidiary
The company has incorporated a wholly owned local subsidiary “Shyp Guru Private Limited” Â recently to establish new partnerships with global logistics/courier networks for international express courier and other kinds of similar services as mentioned in the Memorandum of Association of that Company for Europe and other major destinations which can feed inbound/outbound business. However, no investment is made till September 30, 2022.
The company is consistently working to serve its clientele with more robust business solutions through better technology, an efficient operational network, and more new products for building up beneficial partnerships.
