Karachi: Supernet Technologies Limited announced that Telecard Limited has fully subscribed to a significant portion of its recent right shares issuance, amounting to a substantial investment of PKR 351.71 million. The investment, confirmed through an auditor's certificate, represents 35,171,451 right shares at a price of PKR 10 per share, equivalent to 38.45% of the total right issue.

The report, dated August 21, 2026, highlights Telecard Limited's role as a substantial shareholder in Supernet Technologies Limited. This move aligns with the provisions of the Companies (Further Issue of Shares) Regulations, 2020. The transaction was verified by the statutory auditors M/s Parker Russell A.J.S, Chartered Accountants, ensuring the integrity of the subscription amount for the right shares.

According to information available from the Pakistan Stock Exchange (PSX), this development marks a significant move in the market category of telecommunications technology. The involvement of a substantial shareholder like Telecard Limited underscores the potential growth trajectory and commitment to funding expansion within the sector.

The auditor’s certificate accompanying the transaction assures stakeholders of the compliance and financial robustness of the process, further solidifying Supernet Technologies Limited’s position in the market.