Wasim Akram might be about to make some money. But the former Pakistan captain is not about to make bank on a lucrative commentary deal, nor is he accepting the many offers for coaching that he regularly gets. Instead, the source of his soon-to-be fortune is his investment in a little known logistics and delivery company called blueEX.
Founded in 2005, blueEX is a logistics company that initially came onto the scene to compete with organisations like TCS, but in the recent past has made an active pivot towards providing eCommerce logistics solutions. A few days ago, it was announced that it was looking to raise Rs445.7 million through an initial public offering (IPO) on the Pakistan Stock Exchange’s Growth Enterprise Market (GEM) board.
The move is a bold one, which is precisely what makes this story so interesting. Pakistani companies are currently going through a funding fever-dream fueled by the success of numerous Pakistani startups, particularly tech startups. In this climate everyone wants a slice of the massive venture capital pie that has turned its attention towards Pakistan. For blueEX to then go for an IPO, and that too on the PSX’s GEM board means one of two things. It could either mean that the people behind blueEX have had an inspired moment of brilliance, or that they have failed to raise money through the traditional VC route, and are now going to the PSX as a second resort.
Given the cast of characters running blueEX, the latter is a more likely...
Read Full Story: https://profit.pakistantoday.com.pk/2021/11/14/what-the-blueex-ipo-really-means/
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