May 05, 2026 (MLN): Sea Link Group Limited, alongside its associates including Euroasia Terminal (Pvt.) Limited, has officially declared a public offer to acquire shares of (PSX:PICT).

 The manager to the offer, KTrade Securities Limited, detailed out the acquisition which is of up to 9,201,852 ordinary shares.

This proposed transaction represents approximately 8.43% of the target company's total issued share capital.

This public offer is the culmination of a prior Share Purchase Agreement where the acquirers bought 100% of Innovest Mauritius Limited from ICTSI Limited for a consideration of $200,000.

Through this agreement, the acquirers cumulatively secured 87,003,949 shares, giving them a dominant 79.71% controlling stake in Pakistan International Container Terminal Limited.

The target company, which previously operated a port terminal in Karachi, saw its concession expire in 2023.

Since that expiration, it has suffered a marked decline in its asset base and business operations, possessing no real footprint in any relevant market.

Consequently, Sea Link Group Limited is acquiring the entity primarily as a shell company against a token consideration, with plans to use it as a listed vehicle to raise capital for future acquisitions and business expansions.

The public offer price has been fixed at Rs42.13 per share, justified by the target company's weighted average share price on the securities exchange over the 180 days leading up to the public announcement.

Assuming eligible shareholders fully accept the offer, the acquirers will pay a total consideration of Rs387,674,025.

 KTrade Securities Limited confirmed that adequate financial arrangements have been deposited to fulfill these obligations.

The acceptance period for shareholders wishing to tender their shares will run from 0900 hours on Tuesday, June 23, 2026, until 1700 hours on Monday, June 29, 2026.

The aforementioned was disseminated through a notification to Exchange.