Karachi: Sea Link Group Limited, along with its associates including Euroasia Terminal (Pvt.) Limited, has announced its intention to acquire a significant majority of shares in Pakistan International Container Terminal Limited (PICT), aiming to secure at least 83.14% of the issued and outstanding ordinary shares. This move, as outlined under the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017, represents a major potential shift in control for the terminal operator.
The announcement, dated May 4, 2026, follows a previous notice issued on April 29, 2026. KTrade Securities Limited, acting as the Manager to the Offer, has disseminated this information on behalf of the Acquirer, Sea Link Limited, based in Seychelles. The Acquirer aims to acquire 87,003,949 shares, accounting for 79.71% through agreements, alongside an additional 9,201,852 shares, constituting 8.43%, via a public offer.
According to information available from the Pakistan Stock Exchange (PSX), this acquisition is contingent upon obtaining necessary regulatory approvals, including clearance from the Pakistan Stock Exchange Limited and the Securities and Exchange Commission of Pakistan. The public announcement of intention may be rescinded if these approvals are not granted.
The details of the intended acquisition have been communicated to TRE Certificate holders of the Exchange. The Acquirer has expressed its intent to publish the Public Announcement of Intention in both English and Urdu language newspapers by May 1, 2026. This move underscores the strategic interest of Sea Link Group Limited in expanding its operational footprint within Pakistan’s container terminal sector.
As the situation develops, stakeholders and market participants will closely monitor the process of regulatory approval, which will determine the finalization of this substantial acquisition in the designated market category of the Pakistan Stock Exchange.