Telecard recommends up to Rs564mn investment in Supernet rights issue

Telecard Limited’s board has recommended a potential investment of up to Rs564.12 million in the proposed rights issue of subsidiary Supernet Technologies Limited (STL), subject to shareholder approval.

In a material information disclosure submitted to the Pakistan Stock Exchange (PSX), Telecard said its board passed resolutions through circulation on June 5, 2026, recommending that members of the company authorize and approve the proposed investment in STL’s potential right issue, which is expected to be carried out in the near future.

“The proposed investment amount stands at up to Rs564,123,954, at a maximum price of Rs10 per share of Supernet Technologies Limited,” added the statement.

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On June 1, 2026, STL disclosed its intention to undertake a potential right issue.

Meanwhile, the board also authorised Telecard’s management to take all necessary steps in this regard, including convening an Extraordinary General Meeting (EOGM) to obtain the requisite approval from shareholders. Details of the EOGM are expected to be shared in due course.

“The development is significant for investors as it indicates Telecard’s intention to maintain and strengthen its strategic investment in Supernet Technologies Limited, which operates in Pakistan’s technology, communications infrastructure, cybersecurity, managed services and digital solutions space,” the notice said.