Supernet Technologies Limited (PSX: STL) has approved a rights issue worth approximately Rs. 914.77 million as part of its strategy to strengthen its financial position and support future business growth.
The company’s Board of Directors approved the issuance of 91.48 million ordinary shares at a price of Rs. 10 per share. However, the proposed issue remains subject to regulatory approvals before implementation.
The company stated that the funds raised through the rights issue will strengthen its capital base while supporting ongoing technology projects and future expansion plans.
Shareholders to Receive Rights Shares
Under the approved proposal, eligible shareholders will receive approximately 85 rights shares for every 100 ordinary shares they currently own.
The proposed offering represents nearly 85 percent of the company’s existing paid-up capital, making it one of the company’s significant capital-raising initiatives.
A rights issue allows existing shareholders to purchase additional shares before they become available to other investors. Consequently, shareholders can maintain their ownership percentage by exercising their rights.
Funds to Support Business Growth
According to the company, the proceeds from the rights issue will primarily strengthen its financial position.
In addition, the funds will support ongoing technology projects as the company continues expanding its operations.
A stronger capital base will also help Supernet pursue future business opportunities while supporting long-term operational growth.
Rights Issue Follows Corporate Merger
The Board’s decision comes after the successful completion of the merger between Supernet Technologies Limited and Supernet Limited.
The merger expanded the company’s business portfolio and increased the scope of its operations.
As a result, Supernet now operates with a broader range of services while pursuing additional opportunities in technology and communications.
Regional Expansion Continues
Alongside its domestic operations, Supernet has continued expanding its regional presence through its operations in the United Arab Emirates (UAE).
The company has also continued growing its business within Pakistan by securing new commercial opportunities.
This regional expansion reflects the company’s strategy to strengthen its position in both local and international markets.
Rs. 1 Billion Communications Project Supports Future Growth
Recently, Supernet secured a contract worth approximately Rs. 1 billion for the modernization of communications infrastructure in Pakistan.
The project is expected to contribute positively to the company’s financial performance during fiscal year 2026-27.
Moreover, the contract aligns with Supernet’s focus on expanding its technology services and communications capabilities.
Major Shareholders Back the Rights Issue
The company also confirmed that its directors and major shareholder, Telecard Limited, intend to subscribe to their respective rights entitlements or arrange subscriptions.
Furthermore, any unsubscribed portion of the rights issue will be underwritten in accordance with applicable laws and regulatory requirements.
This arrangement is intended to support the successful completion of the capital-raising exercise.
Supernet Focuses on Long-Term Expansion
The approved Supernet rights issue marks another important step in the company’s long-term growth strategy.
The proposed capital raise will strengthen the company’s financial resources while supporting ongoing technology investments and business expansion.
Combined with its recent merger, regional growth, and communications infrastructure project, the rights issue reflects Supernet’s continued focus on expanding its operations and enhancing its market position in Pakistan and beyond.
