Supernet Technologies Limited (PSX: STL) has approved a rights issue of approximately Rs. 914.77 million, with the company’s board authorizing the issuance of 91.48 million ordinary shares at Rs. 10 per share, subject to regulatory approvals.
According to the company, eligible shareholders will be offered approximately 85 rights shares for every 100 ordinary shares held. The proposed issue represents about 85 percent of the company’s existing paid-up capital.
The company said the proceeds will be used to strengthen its capital base and support ongoing technology projects.
The board’s decision follows the completion of Supernet Technologies’ merger with Supernet Limited, which expanded the company’s operations and business portfolio.
Supernet has also expanded its presence in regional markets through its UAE operations while continuing to grow its business in Pakistan. The company recently secured a contract worth approximately Rs. 1 billion for the modernization of communications infrastructure in Pakistan, which is expected to contribute to its financial performance during fiscal year 2026-27.
The company said its directors and major shareholder, Telecard Limited, intend to subscribe to their respective rights entitlements or arrange subscriptions. Any unsubscribed portion of the issue will be underwritten in accordance with applicable laws and regulations.
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