Lahore: Waves Home Appliances Limited has announced the successful subscription of its Rights Issue, with the directors and a substantial shareholder fully subscribing to 51,568,658 rights shares, valued at PKR 515,686,580. This acquisition represents 34.38% of the total Rights Issue, according to the company's report dated September 3, 2026.

The Directors and substantial shareholder of Waves Home Appliances Limited have demonstrated their confidence in the company by fully subscribing to the offered shares. The subscription was carried out at PKR 10 per share, as stipulated in the Companies (Further Issue of Shares) Regulations, 2020. The company has adhered to all applicable legal requirements, ensuring a transparent process.

According to information available from the Pakistan Stock Exchange (PSX), the auditor's certificate, which accompanies the report, confirms the receipt of the subscription amount. The certificate verifies that an aggregate amount of PKR 515.69 million has been received in compliance with regulatory standards.

The breakdown of the subscription reveals that Waves Corporation Limited, a significant stakeholder, subscribed to 51,520,280 shares, amounting to PKR 515.20 million. Individual directors and shareholders including Mr. Haroon Ahmad Khan, Mr. Moazzam Ahmad Khan, and others contributed to the remaining shares, demonstrating varied levels of engagement.

The report further clarifies the due diligence undertaken by the auditing firm, which included reviewing board resolutions, obtaining approval from the PSX, and verifying bank statements to confirm the inflow of funds into the designated account at Bank Makramah Limited, Lahore.

This strategic move by the directors and the main shareholder reaffirms their commitment to the company's growth and stability, as well as ensuring compliance with regulatory frameworks.