Supernet Technologies has announced plans to raise up to Rs 914.76 million through a potential right issue, subject to final approval by its Board of Directors. The decision reflects the company’s efforts to strengthen its financial position and support future business expansion initiatives.
The proposal received in-principle approval during a meeting of the Board of Directors held on June 1, 2026, at the company’s registered office in Karachi. According to a disclosure submitted to the Pakistan Stock Exchange (PSX), the Board will determine the final terms and timing of the right issue at a later stage in compliance with applicable regulatory requirements.
Funds to Support Operations and Future Projects
Under the proposed plan, Supernet Technologies may offer shares at a price not exceeding Rs 10 per share. The company stated that the proceeds will primarily support working capital requirements for upcoming projects expected to enhance operational efficiency and strengthen long-term growth prospects.
Additionally, the company intends to use part of the funds to support strategic business objectives. Management believes the planned financing will provide greater flexibility in executing projects and maintaining business momentum in a competitive market environment.
Portion of Proceeds May Fund Share Acquisition
A portion of the potential proceeds may also contribute toward the consideration payable to Telecard Limited under the Share Purchase Agreement signed on February 15, 2024. The agreement relates to the acquisition of a 51 percent stake in Supernet Limited, a transaction aimed at expanding the company’s business footprint.
Furthermore, the Board may allocate part of the funds to other purposes as deemed appropriate. The company explained that the in-principle approval allows shareholders and associated concerns sufficient time to secure the necessary corporate and shareholder approvals for participation in the proposed right issue.
