Sea Link Group Limited, together with its associate Euroasia Terminal (Pvt.) Limited, has formally announced a public offer to acquire up to 9.2 million additional shares of Pakistan International Container Terminal Limited (PICT), representing approximately 8.43% of the company’s issued share capital.
The public offer follows the group’s acquisition of 79.71% ownership in PICT through a Share Purchase Agreement involving Innovest Mauritius Limited and its subsidiary Aeolina Investments. Through this transaction, Sea Link Group will gain controlling interest in PICT, one of Pakistan’s listed terminal-related companies.
According to the offer document, the acquisition values the public offer shares at PKR 42.13 per share, resulting in a total offer size of approximately PKR 387.7 million. The offer price was determined based on the weighted average market price of PICT shares over the preceding 180 trading days.
Sea Link Group stated that the acquisition is not intended to continue the historical terminal operations previously associated with PICT. Following the expiration of the company’s terminal concession in 2023, PICT’s operational footprint significantly declined. The acquiring group views the company as a listed corporate vehicle that can support future business expansion and capital-raising initiatives.
The acquirers have indicated plans to use PICT as a platform for acquiring, developing, and expanding businesses across various sectors, subject to all required regulatory approvals. The company is expected to remain listed on the Pakistan Stock Exchange following the completion of the transaction.
Sea Link Group is an international shipping and logistics operator with activities spanning liner services, multimodal transportation, container terminal operations, warehousing, and cargo handling. Its associate, Euroasia Terminal (Pvt.) Limited, focuses on investments in maritime infrastructure, port operations, logistics assets, and related businesses.
The public offer is scheduled to remain open from June 23, 2026, to June 29, 2026. Shareholders wishing to participate may submit their acceptance forms through the designated manager to the offer, KTrade Securities Limited.
The transaction represents a significant ownership transition for PICT and may mark the beginning of a broader strategy to transform the listed company into a platform for future investments and business growth within Pakistan’s maritime and logistics sectors.
