Sea Link Group moves to acquire over 83% stake, control of PICT

Sea Link Group Limited has initiated a transaction to acquire control of Pakistan International Container Terminal Limited through a combination of direct agreements and a public offer, according to disclosures submitted to the Pakistan Stock Exchange on Tuesday.

The acquirer plans to secure at least 83.41% shareholding in PICT, including 79.71% through a share purchase agreement and an additional 8.43% through a public offer.

Under the agreement, Sea Link Group has entered into a share purchase deal with ICTSI Limited to acquire 100% shares of Innovest Mauritius Limited for a consideration of $200,000. Innovest Mauritius Limited holds 69,848,310 shares of PICT, representing 63.99% ownership.

In addition, Innovest Mauritius Limited wholly owns Aeolina Investments, which holds 17,155,639 shares of PICT, accounting for 15.72% stake. Through this structure, the acquirer will obtain a cumulative 87,003,949 shares, equivalent to 79.71% of the company’s issued capital.

Separately, the group has announced a public offer to acquire up to 9,201,852 ordinary shares, representing 8.43% of PICT’s share capital, under the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

KTrade Securities Limited has been appointed as manager to the offer. The public announcement of the offer is expected to be published in newspapers.

The acquisition process follows an earlier notice dated April 29, 2026, in which Sea Link Group indicated its intention to acquire control of PICT either directly or through its subsidiary.

Sea Link Group operates as an international shipping line with presence across the Far East, Africa, Central Asia, the Middle East and Europe, providing cargo transportation and logistics services across multiple trade routes.

The transaction also involves Euroasia Terminal (Private) Limited, which is part of the acquiring group. Established in 2020, the company focuses on investments in port operations, maritime logistics and container handling infrastructure.

The proposed acquisition reflects a shift in ownership of PICT, with the majority stake being transferred through offshore holding structures, followed by a mandatory public offer to minority shareholders under regulatory requirements.