Supernet Board clears Rs915m rights issue to support expansion

KARACHI: Supernet Technologies Limited has announced a rights issue of approximately Rs914.77 million after its Board of Directors approved the issuance of new shares to strengthen the company’s capital base and support its expanding technology business.

According to a statement issued on Tuesday, the board approved the issuance of 91,476,554 ordinary shares at a subscription price of Rs10 per share. Existing shareholders will be offered approximately 85 right shares for every 100 ordinary shares held, representing about 85 percent of the company’s existing paid-up capital.

The company said the rights issue remains subject to the completion of applicable legal and regulatory requirements.

Supernet said the capital raising follows a period of strategic and operational expansion, including the completion of its merger with Supernet Limited, growth of its regional operations through the Supernet Global platform and continued expansion across digital infrastructure, cybersecurity, cloud services, connectivity, managed services, enterprise networking and technology integration.

According to the company, the merger has created a larger and more diversified technology platform by combining complementary capabilities to provide integrated technology solutions for government, enterprise and critical infrastructure customers.

The company said it is also leveraging its presence in the United Arab Emirates to pursue opportunities across the Middle East, Africa and Central Asia while continuing to expand its operations in Pakistan.

Supernet said it has recently secured several projects in cybersecurity, enterprise technology and communications infrastructure. Among them is a contract valued at approximately Rs1 billion for the enhancement and modernization of critical communications infrastructure in Pakistan, which the company described as the largest single contract in its history. The project is expected to contribute to revenue and profitability during FY2026-27.

The company added that it continues to pursue opportunities in digital infrastructure, cybersecurity, connectivity and enterprise technology solutions in both domestic and regional markets.

According to the statement, the proceeds from the rights issue are expected to strengthen the company’s balance sheet, optimize its capital structure and improve its ability to respond to evolving customer requirements and emerging business opportunities.

Supernet further disclosed that its directors and substantial shareholder, Telecard Limited, have confirmed their intention to subscribe to, or arrange subscriptions for, their respective rights entitlements. Any unsubscribed portion of the issue will be underwritten in accordance with applicable laws and regulations.

Copyright Business Recorder, 2026