Karachi: Sea Link Group Limited, a company headquartered in the Republic of Seychelles, has announced its intention to acquire a controlling interest in Pakistan International Container Terminal Limited (PICT), aiming to secure at least 83.41% of the company’s outstanding shares. The announcement, dated April 28, 2026, was made by KTrade Securities Limited, which has been appointed as the Manager to the Offer.
The acquisition plan is structured to include an agreement for 87,003,949 shares, representing 79.71% of PICT’s issued capital, complemented by a public offer for an additional 9,201,610 shares, equating to 8.43% of the company’s shares. The acquisition is contingent upon obtaining necessary approvals from the Pakistan Stock Exchange Limited and the Securities of Exchange Commission of Pakistan.
According to information available from the Pakistan Stock Exchange (PSX), PICT’s share price stood at PKR 38.76 as of April 27, 2026. Over the preceding 28 days, the weighted average share price was recorded at PKR 33.09. The company was initially listed on October 13, 2003, with an offer price of PKR 10 per share.
Sea Link Group Limited is engaged in various logistics services, including container terminal operations and freight forwarding. The company is led by substantial shareholders Bilal Shahid and Umer Shahid, each holding a 50% stake.
PICT’s financial performance has seen fluctuations over recent years. In 2025, the company reported a loss after tax of PKR 134 million, and its earnings per share declined to PKR -1.23. The company also reported no dividend payout for the year. Total equity fell to PKR 1,307 million, while total liabilities decreased to PKR 2,569 million.
The intended acquisition marks a significant move in the designated market category, potentially altering the competitive landscape in the region’s logistics industry. The public announcement of intention to acquire shares is scheduled to be published in both English and Urdu newspapers by April 30, 2026, pending regulatory clearance.