The Board of Directors of Supernet Technologies Limited (PSX: STL) has approved, in principle, a potential rights issue of ordinary shares of up to Rs914.76 million, the company announced in a disclosure to the Pakistan Stock Exchange.
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The decision was taken at a meeting held on June 1, 2026, at the company’s registered office in Karachi. The move is part of Supernet’s broader strategy to strengthen its financial position and fuel its growth trajectory.
| Rights Issue Detail | Information |
|---|---|
| Company | Supernet Technologies Limited (PSX: STL) |
| Maximum Amount | Up to Rs914.76 million |
| Indicative Price | Not exceeding Rs10 per share |
| Status | Board approval in principle; final approval pending |
| Purpose | Working capital for upcoming projects; partial acquisition funding |
Use of Proceeds
The proceeds from the potential rights issue are intended to primarily support the company’s working capital requirements for upcoming projects, which are expected to strengthen Supernet Technologies’ operational performance and growth prospects.
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.
Next Steps
The company stated that the purpose of the in‑principle approval is to enable shareholders, particularly associated concerns, to obtain necessary corporate approvals – including shareholders’ approval – to invest in the potential rights issue, if they deem fit.
The Board may approve and announce the actual rights issue at a future date in accordance with applicable laws and regulatory requirements.
About Supernet Technologies Limited
Supernet Technologies Limited (PSX: STL) is a Pakistan‑based company engaged in technology and investment activities, providing satellite communications, ICT infrastructure, cybersecurity, and digital services. The company has been expanding its footprint with international projects, including satellite connectivity deployments in Africa and the Middle East.
