Karachi: The Board of Directors of Telecard Limited has recommended a potential investment of up to PKR 564.12 million in its subsidiary Supernet Technologies Limited (STL), according to a report issued on June 5, 2026. This recommendation comes as STL plans a right issue, with a maximum price set at PKR 10 per share, pending shareholder approval as per Section 199 of the Companies Act, 2017.

The decision by Telecard’s Board was formalized through circulated resolutions, underscoring the need for shareholder authorization for the proposed investment. An extraordinary general meeting will be convened to secure the necessary approvals from shareholders. Details regarding this meeting will be disclosed in due course.

According to information available from the Pakistan Stock Exchange (PSX), the proposed investment by Telecard into STL marks a significant financial maneuver. The Board has tasked the management with taking all necessary actions to facilitate this process.

Telecard Limited operates within the designated market category of telecommunications, and this strategic move aims to bolster its investment portfolio through its subsidiary, Supernet Technologies Limited.