Lahore: Waves Home Appliances Limited has unveiled its plans to issue 150,015,772 ordinary shares at a price of Rs. 10 per share, amounting to a total of Rs. 1.50 billion. This announcement, dated August 27, 2026, follows the recent decision of the company's Board of Directors held on July 23, 2026, and is aimed at raising capital through a structured Right Offer.
According to the schedule, the trading of unpaid rights on the Pakistan Stock Exchange (PSX) will commence on August 31, 2026, and continue until September 14, 2026. Shareholders are expected to accept and make payments for the shares by September 21, 2026. The company has clarified that the allotment and credit of shares into the Central Depository Company (CDC) will be completed by October 5, 2026, which is also the date for dispatching physical share certificates.
The Right Offer entails providing 56 rights for every 100 ordinary shares held, translating to a 56.00% entitlement ratio. Shareholders are encouraged to utilize the newly introduced online payment facility via 1Link for ease of transaction. This digital approach facilitates payments through internet banking, ATMs, and mobile banking, broadening accessibility for investors.
The book closure date for the issuance was set for August 27, 2026. Consequently, the unpaid rights were credited to the CDC in book entry form on August 28, 2026. Dispatch of the Letter of Right (LOR) to physical shareholders, along with the intimation to PSX, is scheduled for September 1, 2026.
According to information available from the Pakistan Stock Exchange (PSX), the fractional right entitlements will be consolidated and sold, with proceeds distributed to shareholders in accordance with their respective entitlements. The consolidation and disposal process ensures that shareholders benefit from fractional rights that would otherwise remain unutilized.
The company has indicated that any Right Offer not accepted by the specified deadline of September 21, 2026, will be deemed declined. These rights will subsequently be reallocated as per the decisions made by the Board of Directors in line with Section 83 of the Companies Act, 2017.
Waves Home Appliances Limited emphasizes the importance of adhering to the outlined procedures and deadlines to ensure a smooth and efficient process for all stakeholders involved. Detailed information is provided in the accompanying documents to assist in the handling of the entitlement confirmations.