Karachi: In a strategic move, Supernet Technologies Limited announced its consideration of a potential right issue of ordinary shares, as detailed in a report dated June 1, 2026. The decision was made during a Board of Directors meeting held at the company’s registered office in Karachi, reflecting the board’s intention to strengthen the company’s financial position and support its growth initiatives.
The potential right issue, if approved, could amount to PKR 914.77 million, with the shares potentially priced at no more than PKR 10 each. The primary objective of this financial maneuver is to bolster the company’s working capital for upcoming projects aimed at enhancing operational performance and growth prospects. Furthermore, part of the raised capital is intended to be used to fund the acquisition of a 51% stake in Supernet Limited from Telecard Limited, as per a Share Purchase Agreement dated February 15, 2024.
According to information available from the Pakistan Stock Exchange (PSX), this move is designed to enable shareholders, particularly associated concerns, to secure necessary corporate approvals and, if deemed appropriate, invest in the potential right issue. The board retains the discretion to finalize and announce the right issue at a later date, subject to compliance with applicable legal requirements.
This announcement is expected to inform the TRE Certificate Holders of the Exchange, as Supernet Technologies Limited positions itself for potential expansion and increased market competitiveness.