Supernet Limited Merges into Supernet Technologies Limited Following Court Sanction

Supernet Limited has been merged with and into Supernet Technologies Limited (STL) pursuant to a Scheme of Arrangement sanctioned by the High Court of Sindh, resulting in STL becoming the surviving listed entity. Following the merger’s effectiveness, all assets, liabilities, rights, and obligations of Supernet Limited have been vested in STL. The merged entity will continue operations under the name Supernet Technologies Limited and will trade on the Main Board of the Pakistan Stock Exchange under the symbol “STL.”

Under the capital reorganization approved as part of the Scheme of Arrangement, STL will capitalize its accumulated profits and issue 5.5 million fully paid-up ordinary shares of PKR 10 each to its existing shareholders in the ratio of 11 shares for every one share held. Subsequently, STL will issue 101.62 million fully paid-up ordinary shares of PKR 10 each to the shareholders of Supernet Limited based on the approved share swap ratio. Following the issuance of new shares, STL’s issued and paid-up share capital will increase to approximately PKR 1.076 billion, comprising 107.6 million ordinary shares.

Supernet Limited, listed on the Growth Enterprise Market (GEM) Board of the PSX, was founded in 1995 and has operated as a nationwide provider of data connectivity and digital infrastructure services. The company has established operational coverage across more than 200 cities and towns. In 2024, Supernet strengthened its regulatory framework by obtaining Fixed Local Loop (FLL) licenses for 14 regions from the Pakistan Telecommunication Authority, enabling enhanced telecom service delivery under a unified licensing regime.

Over time, Supernet diversified beyond connectivity into mission-critical communications, cybersecurity, managed services, IoT, and integrated ICT infrastructure solutions, supported by specialized subsidiaries operating across infrastructure deployment, software solutions, and international markets. The merger follows a multi-year restructuring within the Supernet Group aimed at consolidating listed entities under a single platform. In 2023, Supernet Infrastructure Solutions (Private) Limited acquired Hallmark Company Limited, a Main Board-listed technology company. Subsequently, STL was acquired by Telecard Limited, and it also became the majority shareholder of Supernet Limited, setting the stage for the merger.

Post-merger, Telecard Limited will hold approximately 61.7% of STL’s share capital, consolidating its position as the group’s ultimate controlling shareholder. The merger is expected to enhance liquidity, simplify the corporate structure, and provide a unified platform for future growth on the PSX Main Board.