KARACHI: Sea Link Group Limited, incorporated in the Republic of Seychelles, has announced its intention to acquire at least 83.41% of the issued and outstanding ordinary shares and control of Pakistan International Container Terminal Limited (PICT), according to a notice submitted to the PSX.
According to the announcement, Sea Link Group Limited intends to acquire control of PICT either directly or through its subsidiary. The proposed acquisition includes 87,003,949 shares, representing 79.71%, through agreements, and 9,201,610 shares, representing 8.43%, through a public offer.
KTrade Securities Limited has been appointed as manager to the offer and has informed PICT that the public announcement of intention will be published by April 30, 2026.
The acquisition is subject to regulatory approvals, including clearance of fit and proper criteria from the Pakistan Stock Exchange Limited and the Securities and Exchange Commission of Pakistan. The announcement said the public offer may be withdrawn if required approvals are not granted.
Sea Link Group Limited was incorporated on June 27, 2025, in Seychelles. Its authorised capital and paid-up capital are both listed at $1,000. Its ultimate controlling shareholders are Bilal Shahid and Umer Shahid, who also serve as directors of the company. The company’s substantial shareholders hold 50% each.
The acquirer’s principal business covers container freight stations, container terminal operations, carrier container terminal operations, transportation of goods and passengers, domestic and international freight forwarding, logistics services, courier services and related shipping activities.
The announcement also disclosed companies in which the ultimate controlling shareholders hold control of more than 30% voting shares. These include EuroAsia Private Limited, a Pakistan-based private logistics company with registration number 0162986, and Synergy Limited, a UAE-based private investment company with registration number IC/2370/10. Both are listed as 100% controlled.
Existing voting rights in PICT were also disclosed. Euroasia Terminal (Pvt.) Limited holds 2,961,000 shares, Synergy Limited holds 783,000 shares, and Bilal Shahid Ansari holds 1,000 shares.
The offer is being made under the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
