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Business & Finance

Unilever’s Pakistan Delivery Partner Plans IPO to Expand Network

  • The Pakistan-based courier service, Universal Network System Ltd. is planning an initial public offering (IPO) to become the first logistic company to list in Pakistan.
  • The courier company hopes to expand its network and enhance its technological infrastructure by attracting new investors to the business.
Published February 20, 2021
Source: Universal Network System Ltd.
Source: Universal Network System Ltd.
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The Pakistan-based courier service, Universal Network System Ltd. is planning an initial public offering (IPO) to become the first logistic company to list in Pakistan.

The Karachi-based company operates a premium time-sensitive international and domestic courier service known as BlueEX, and is the main delivery partner for big clients like Unilever Plc and Nestle SA.

According to Imran Baxamoosa, CEO of Universal Network System Ltd., the company hopes to sell its new shares, which will be equivalent to 25 percent of the company, within the next two months.

The courier company also hopes to expand its network and enhance its technological infrastructure by attracting new investors to the business.

“There is some crazy exponential growth that is being foreseen right now,” Baxamoosa explains to Bloomberg. “We have grown organically so far but now it’s about time that we get aggressive”

Universal Network System Ltd., which is one of the top five leading providers logistics services in Pakistan, started its cargo handling operations in 2005 and then moved towards the ecommerce business in 2011 by convincing companies to start online sales.

Currently, the courier company has around 1,000 employees and over 350 vehicles. It plans on further boosting its network fourfold by investing in new servers and IT equipment.

According to reports by Bloomberg, Universal Network System Ltd. handled 2.1 million shipments and Rs. 4.5 billion in cash deliveries in the year ended June, and has grown by about 70% on average annually since 2012.

Baxamoosa also predicts that this new advancement will allow Universal Network System Ltd. to grow its revenue more than three-fold to Rs. 4.3 billion in fiscal year 2023.

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