Lahore: Waves Home Appliances Limited has successfully secured full subscription for its recent right shares offering, according to a report issued on October 8, 2026. The company confirmed that all 150,015,772 right shares offered have been fully subscribed, with the total subscription amount reaching PKR 1,500,157,720.
The completion of the subscription process has led to the issuance of a No Objection Certificate (NOC) in favor of Bank Makramah Limited, appointed as the banker to the issue, and the Central Depository Company of Pakistan Limited (CDC). This NOC authorizes and facilitates the release of the subscription funds in compliance with applicable regulatory requirements.
The statutory auditors of Waves Home Appliances Limited have confirmed the receipt of the subscription money in designated bank accounts and with the CDC. The issuance of right shares, which constitute 56% of the company's existing paid-up share capital, has resulted in a revised paid-up share capital of 417,901,079 ordinary shares, amounting to PKR 4,179,010,790.
According to information available from the Pakistan Stock Exchange (PSX), the subscription process was meticulously verified by the company's auditors. The verification included reviewing board resolutions, tracing subscription money received from Waves Corporation Limited and the general public, and recalculating the revised paid-up share capital of the company.
The company's authorized share capital remains unchanged at PKR 4,250,000,000, divided into 425,000,000 ordinary shares of PKR 10 each. This existing authorized share capital was sufficient to accommodate the issue of right shares, negating the need for any increase.
Waves Home Appliances Limited has adhered to the requirements of the Companies Act, 2017, concerning the issue and allotment of right shares. The company is also tasked with filing Form-3 "Return of Allotment of Shares" with the registrar within 45 days of the allotment, as mandated by section 70 of the Companies Act, 2017.
The successful subscription and subsequent issuance of right shares will be reflected in the future financial statements of the company, marking a significant move for Waves Home Appliances Limited in the designated market category.