The Pakistan Stock Exchange (PSX) management has given a green signal to Telecard Limited for listing its subsidiary Supernet Limited through the book-building process to be scheduled on April 12-13, according to the stock filing.
The PSX board of directors decided to list the subsidiary of Telecard Limited last year in 2021 in order to raise the funds for the company for the planned expansion of operations and services.
Supernet offers a range of enabling ICT solutions including internet, IT infrastructure, cybersecurity, software development, etc. It operates in more than 200 locations in Pakistan, providing services to corporate customers.
In recent months, the company won services contracts from various companies up to Rs. 250 million including projects from the State Bank of Pakistan; Avara, an Australian company; and mobile phone operators, etc.
The listing of Supernet at PSX will also encourage companies from the technology sector to enhance the exposure of the business through a public listed company.
