WAVES Home Appliances Limited (PSX: WAVESAPP) has announced a 56 percent rights issue to raise fresh capital, offering existing shareholders the opportunity to purchase new shares at Rs. 10 each.
In a notice to the Pakistan Stock Exchange (PSX), the company’s board approved the issuance of 150,015,772 ordinary right shares with a face value of Rs. 10 per share, increasing the company’s paid-up share capital from Rs. 2.68 billion to approximately Rs. 4.18 billion.
Under the offer, shareholders will be entitled to receive 56 right shares for every 100 ordinary shares held on the book closure date. The shares will be issued at par, meaning no premium will be charged.
| Item | Details |
|---|---|
| Rights issue size | 150,015,772 shares |
| Offer ratio | 56 shares for every 100 shares held |
| Issue price | Rs. 10 per share |
| Premium | None (issued at par) |
| Existing paid-up capital | Rs. 2.68 billion |
| Paid-up capital after issue | Rs. 4.18 billion |
| Board approval date | July 23, 2026 |
The company said the rights issue is intended to strengthen its capital base and provide funds for corporate requirements. It added that the detailed offer document, including the utilization of proceeds, subscription schedule, and book closure dates, will be announced after regulatory formalities are completed.
The company said details regarding the book closure dates and shareholders’ entitlement to subscribe to the right shares will be communicated separately in accordance with the Companies (Further Issue of Shares) Regulations, 2020.
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