KARACHI: Pakistan International Container Terminal Limited (PICT) has announced that Sea Link Group Limited, a Seychelles-based logistics company, intends to acquire at least 83.41% of the company’s issued and outstanding ordinary shares, paving the way for a potential change in control of the listed terminal operator. The proposed transaction remains subject to regulatory approvals under Pakistan’s takeover regulations.
According to the public announcement issued through KTrade Securities Limited, which has been appointed as the manager to the offer, Sea Link Group plans to acquire 79.71% of PICT’s shares through agreements and an additional 8.43% through a mandatory public offer. The acquisition will be carried out either directly by Sea Link Group or through one of its subsidiaries.
PICT informed the Pakistan Stock Exchange that it had received the notice from KTrade Securities on behalf of the acquirer, requesting dissemination of the information to the market in accordance with the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
Sea Link Group Limited was incorporated in Seychelles in June 2025 and is owned equally by Bilal Shahid and Umer Shahid, who each hold a 50% stake in the company. The group operates in container terminal management, freight forwarding, logistics, transportation, shipping, and related supply chain businesses.
The acquisition is contingent upon obtaining all necessary approvals from the Securities and Exchange Commission of Pakistan (SECP), the Pakistan Stock Exchange (PSX), the Competition Commission of Pakistan (CCP), and any other relevant regulatory authorities. The announcement notes that the offer may be withdrawn if the required approvals are not granted.
As part of the disclosure, the acquirer also reported an existing indirect holding of approximately 3.43% in PICT through Euroasia Terminal (Private) Limited, Synergy Limited, and Bilal Shahid Ansari.
PICT currently has 109.15 million ordinary shares in issue. Its major shareholders include Innovest Mauritius Limited, which owns 63.99%, and Aeolina Investments, which holds 15.72%, together accounting for the 79.71% stake proposed to be acquired under the share purchase agreements.
The company, listed on the Pakistan Stock Exchange since October 2003, has experienced mixed financial performance in recent years. According to the disclosure document, PICT reported a loss after tax of Rs134 million in 2025, compared with a profit of Rs649 million in 2024, while earnings per share fell to a loss of Rs1.23.
If completed, the transaction would mark one of the significant ownership changes in Pakistan’s port and logistics sector, bringing PICT under the control of a logistics-focused group with an established presence in freight, shipping, and terminal operations. The deal will proceed only after satisfying all regulatory and legal requirements.
