KARACHI: Blue-Ex Limited (PSX: GEMBLUEX), a logistics and e-commerce delivery company currently listed on the Growth Enterprise Market (GEM) Board of the Pakistan Stock Exchange (PSX), has received regulatory approval from the Securities and Exchange Commission of Pakistan (SECP) to issue fresh shares as part of its transition to the PSX Main Board.
In a stock filing on Friday, the company announced that the SECP has approved its application for the issuance of shares “other than by way of rights,” meaning the company will not be offering these shares to its existing shareholders on a preferential basis. Instead, Blue-Ex will issue 1 million ordinary shares to new investors at a fixed price of Rs65 per share, as per the SECP approval dated May 16, 2025.
This process is part of Blue-Ex’s migration from the GEM Board to the Main Board of PSX—a move that typically reflects a company’s growth in size, stability, and regulatory compliance. The GEM Board is designed for smaller, high-growth businesses with less stringent listing requirements, whereas the Main Board caters to more mature companies with a broader investor base and higher reporting standards.
The issuance of shares at a fixed price provides new investors an opportunity to acquire equity in the company while helping Blue-Ex meet the regulatory conditions for Main Board listing, including enhanced free-float and capital requirements.
The company’s successful migration would make it one of the few firms to graduate from the GEM Board since its inception, a development that could encourage other emerging companies to consider a similar pathway.
