Lahore: Waves Home Appliances Limited ("WAVESAPP" or the "Company") has announced a new issuance of right shares as part of its strategy to increase paid-up share capital. The Board of Directors, during a meeting on July 23, 2026, approved the issuance of 150.02 million ordinary shares. These shares, valued at PKR 10 each, will be offered to existing shareholders in the proportion of 56 right shares for every 100 ordinary shares held, equating to a 56.00% increase.

According to information available from the Pakistan Stock Exchange (PSX), this move aligns with the requirements set forth by Sections 96 and 131 of the Securities Act, 2015, as well as other relevant regulations. The announcement comes as part of the company's ongoing efforts to bolster its financial base and provide additional value to its shareholders.

The specific dates for the closure of the company's share transfer books, which will determine the entitlement of the right shares, will be announced following the finalization of the offer letter and associated documents. The issuance will proceed in compliance with the Companies (Further Issue of Shares) Regulations, 2020, ensuring adherence to the designated market category.