The Pakistan Stock Exchange (PSX) on Thursday approved the listing application of Supernet Limited (SNL), a wholly-owned subsidiary of Telecard Limited.
“In line with the earlier disclosure, it was informed that the Board of Directors of Telecard Limited in its meeting held on 14 September 2021, had decided that its subsidiary, Supernet Limited (SNL) may be listed on the Pakistan Stock Exchange Limited (PSX),” read a notification to the bourse.
“We are pleased to inform you that the PSX has approved the listing application of SNL.”
Back in September, last year, the Board of Directors of Telecard Limited, decided that its subsidiary, Supernet Limited (SNL) may be listed on the bourse.
As per Telecard's latest financial statements, the company posted consolidated revenue of Rs897.5 million for the quarter ended September 30, 2021 against Rs904 million in the same period of the previous year.
The company posted a consolidated profit of Rs98 million (EPS of Rs0.31) in July-September 2021 against a loss of Rs8 million in the same three-month period of 2020.
Pakistan's stock market saw record offerings in 2021 where the bourse witnessed eight IPOs, including 2 GEM board offerings, the highest after 2015. Total amount raised from investors from these eight offerings clocked in at Rs20 billion during 2021.
In 2022 so far, Pakistan's Regal Automobile Industries has also applied for listing, while Secure Logistics Group Limited (SLG) is also looking to raise Rs1.5 billion through an IPO.