BlueEx Limited, formerly known as Universal Network Systems Limited, has become the first firm to successfully complete its transition from the GEM (Growth Enterprise Market) Board to the Pakistan Stock Exchange (PSX) Ready Board, according to a filing by the company on Friday.
The company has received approval from the Securities and Exchange Commission of Pakistan (SECP) and the PSX to migrate to the Ready Board through a public offering of 1.0 million shares.
This move marks a historic milestone in Pakistan’s equity capital markets, as BlueEx will be the first entity to transition from the GEM (Growth Enterprise Market) Board to the Ready Board.
“We are pleased to announce that BlueEx Limited has received approval from both the SECP and the PSX to migrate to the Ready Board through a public offering of 1.0 million shares,” read the notice sent to the local bourse.
The company plans to open the offering to the general public next week.
According to the company, this transition will not only improve visibility and access to capital but also increase its engagement with the broader market.
Blue-Ex Limited was incorporated as a private limited company on December 12, 2005 . The principal activities of the company are to act as a cargo forwarder, provide domestic and international courier and allied services.
