KARACHI: Supernet Technologies Limited has announced a significant rights issue worth approximately PKR 914.77 million, aimed at strengthening its working capital and partially financing the acquisition of a controlling stake in Supernet Limited. The decision was approved by the company’s Board of Directors during its meeting held on July 15, 2026.
The company plans to issue 91,476,554 ordinary right shares with a face value of PKR 10 per share, offering shareholders approximately 85 right shares for every 100 shares held. The rights shares will be offered at PKR 10 per share, with the total issue size amounting to PKR 914,765,540.
According to the company, the proceeds from the rights issue will be allocated across two strategic objectives. Approximately PKR 464.77 million (50.81%) will be used to support the company’s working capital requirements, enabling it to execute existing and upcoming business initiatives, improve liquidity, and enhance operational performance. The remaining PKR 450 million (49.19%) will be utilized to partially fund the consideration payable to Telecard Limited under the Share Purchase Agreement dated February 15, 2024, relating to the acquisition of a 51% shareholding in Supernet Limited.
Supernet stated that the rights issue is expected to strengthen its financial position by improving liquidity, optimizing its capital structure, and providing greater flexibility to pursue future business opportunities. The company believes these measures will contribute to long-term value creation for shareholders.
The board also noted that the rights issue is being offered at a price significantly below the prevailing market price, reducing investment risk for existing shareholders. Furthermore, the company’s substantial shareholder, Telecard Limited, along with the directors, has confirmed its intention to subscribe to its respective entitlement or arrange for its subscription in accordance with applicable laws. Any unsubscribed portion of the issue will be underwritten as required.
The dates for the closure of the company’s share transfer books, which will determine shareholders’ entitlement to the rights issue, will be announced after the finalization of the offer document in accordance with the Companies (Further Issue of Shares) Regulations, 2020.
The proposed capital raise reflects Supernet Technologies’ strategy to reinforce its financial resources while advancing its expansion plans through the acquisition of a majority stake in Supernet Limited, positioning the company for future operational growth and enhanced shareholder value.
