Blue-Ex Limited (PSX: GEMBLUEX), a logistics and e-commerce delivery company listed on the Growth Enterprise Market (GEM) Board of the Pakistan Stock Exchange (PSX), has received regulatory approval from the Securities and Exchange Commission of Pakistan (SECP) to issue new shares as part of its transition to the PSX Main Board.
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In a stock filing submitted on Friday, the company announced that the SECP has approved its application for the issuance of shares “other than by way of rights.” This means the fresh shares will not be offered to existing shareholders on a preferential basis. Instead, Blue-Ex will issue 1 million ordinary shares to new investors at a fixed price of Rs 65 per share, according to SECP’s approval dated May 16, 2025.
The share issuance is a critical step in Blue-Ex’s bid to migrate from the GEM Board to the Main Board of the PSX—a move that signifies increased operational maturity, stability, and regulatory compliance. The GEM Board is designed for smaller, fast-growing enterprises with relatively flexible listing criteria, while the Main Board demands a higher level of transparency, corporate governance, and investor engagement.
By issuing shares at a fixed price, Blue-Ex not only opens the door for new investors but also positions itself to meet the PSX’s Main Board requirements, including higher capital thresholds and a broader public float.
This transition, once completed, would make Blue-Ex one of the few companies to successfully graduate from the GEM Board—a platform introduced to foster early-stage corporate growth in Pakistan. The company’s progress could serve as a case study for other high-growth ventures aiming for mainstream market participation and increased investor visibility.
The move reflects Blue-Ex’s broader ambition to strengthen its capital base, attract institutional investors, and build long-term resilience in a competitive logistics and e-commerce delivery market.
