Supernet Technologies to carry Rs914mn right issue
- Plans the right issue to fund new projects and enhance operational performance, strengthening its path to growth
Supernet Technologies' Board approved a potential right issue of up to PKR 914.76 million to fund working capital for upcoming projects and partially finance the acquisition of Supernet Limited shares.
- Potential right issue amount and share price.
- Funding for upcoming projects and working capital.
- Partial financing of Supernet Limited acquisition.
The Board of Directors of Supernet Technologies Limited approved on Monday the company’s intention to potentially carry out a right issue of ordinary shares in the near future.
The decision was taken at a meeting of the Board of Directors held on June 1, 2026, at the registered office of the company in Karachi, as per the notice to the Pakistan Stock Exchange.
“The aggregate amount of the potential right issue may be up to PKR 914.76 million, subject to final approval by the Board at the relevant time,” the listed company shared.
“The shares, if issued, are intended to be offered at a price not exceeding PKR 10 per share, as ultimately determined by the Board.”
The company further said that proceeds from the potential right issue were intended to primarily support the company’s working capital requirements for upcoming projects, which was expected to strengthen Supernet Technologies’ operational performance and growth prospects.
READ MORE: Supernet Limited merges into Supernet Technologies Limited following SHC sanction
“A portion of the funds may also be used to partially fund the consideration payable by Supernet Technologies to Telecard Limited under the Share Purchase Agreement dated February 15, 2024, for the acquisition of 51% shares of Supernet Limited.
The proceeds may also be utilized for other purposes as determined by the Board of Directors.”
The company further stated that the purpose of the in-principle approval was to enable shareholders, particularly associated concerns, to obtain necessary corporate approvals, including shareholders’ approval, to invest in the potential right issue, if they deem fit.
The Board may approve and announce the actual right issue at a future date in accordance with applicable laws and regulatory requirements, the company concluded.
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