Universal Network Systems Limited (UNSL), commonly known as BluEX, has received an offer from a fintech company for the acquisition of its 20 percent shareholding, according to a stock filing.
The name of the fintech company has not been disclosed yet. In the next step, the fintech company will commence due diligence of Universal Network Systems in pursuance of its plan.
The management of Universal Network Systems will keep the shareholders informed of the development subject to the successful completion of the due diligence process, the filing added.
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.
The company has network coverage in 400 cities and towns in the country. During the last couple of years, the company made immense growth including its listing on Pakistan Stock Exchange.