KARACHI: Supernet Technologies Limited (STL) has formally absorbed Supernet Limited following the sanction of a Scheme of Arrangement by the High Court of Sindh, resulting in STL becoming the surviving listed entity on the Pakistan Stock Exchange (PSX).
Under the merger, all assets, liabilities, rights and obligations of Supernet Limited have been transferred to STL, which will continue operations under the name Supernet Technologies Limited and trade on the Main Board of the PSX under the symbol “STL”.
As part of the approved capital reorganization, STL will capitalize accumulated profits and issue 5.5 million fully paid-up ordinary shares of Rs10 each to existing shareholders in the ratio of 11 shares for every one share held. In addition, the company will issue approximately 101.62 million ordinary shares of Rs10 each to shareholders of Supernet Limited in accordance with the approved share swap ratio.
Following the issuance of new shares, STL’s issued and paid-up capital will increase to approximately Rs1.076 billion, representing around 107.6 million ordinary shares.
Supernet Limited, previously listed on the Growth Enterprise Market (GEM) Board of the PSX, was established in 1995 and operates as a nationwide provider of data connectivity and digital infrastructure services, with operational coverage across more than 200 cities and towns.
In 2024, the company obtained Fixed Local Loop (FLL) licences for 14 regions from the Pakistan Telecommunication Authority, strengthening its regulatory framework and enabling expansion of telecom service delivery.
Over the years, the group diversified its operations beyond connectivity into mission-critical communications, cybersecurity, managed services, Internet of Things (IoT), and integrated information and communications technology (ICT) infrastructure solutions through specialized subsidiaries operating in infrastructure deployment, software solutions, and international markets.
Copyright Business Recorder, 2026
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