Supernet Technologies Limited (PSX: STL) has announced that its Board of Directors has approved a rights issue of approximately Rs914.77 million to strengthen the company’s capital base, support its expanding portfolio of technology projects and position it for the next phase of sustainable growth.
The Board approved the issuance of 91,476,554 ordinary shares at Rs10 per share, in the proportion of approximately 85 rights shares for every 100 ordinary shares held by eligible shareholders.
The issue represents around 85 percent of the company’s existing paid-up capital and remains subject to completion of the applicable legal and regulatory processes.
The decision follows a period of significant strategic and operational transformation for Supernet Technologies, including the completion of its merger with Supernet Limited, expansion of its regional footprint through the Supernet Global platform and continued growth across digital infrastructure, cybersecurity, cloud, connectivity, managed services, enterprise networking and technology integration.
The merger has created a larger and more diversified technology platform, bringing together complementary capabilities and enabling the company to offer integrated and secure solutions to governments, enterprises and critical-infrastructure customers.
Supernet is also leveraging its presence in the UAE to pursue business opportunities across the Middle East, Africa and Central Asia, while continuing to consolidate its position in Pakistan.
The company’s strategic progress is increasingly being reflected in its commercial performance. Supernet has secured a series of significant projects across cybersecurity, enterprise technology and communications infrastructure, alongside expanding its presence in regional markets.
Most recently, the company announced the award of a contract valued at approximately Rs1 billion for the enhancement and modernisation of critical communications infrastructure in Pakistan. The project, the largest single contract secured by the company to date, is expected to contribute to revenue and profitability during FY2026-27.
Supernet also continues to pursue a growing pipeline of opportunities in digital infrastructure, cybersecurity, connectivity and enterprise technology solutions across Pakistan and regional markets.
The rights issue is expected to strengthen Supernet Technologies’ balance sheet, optimise its capital structure and improve its ability to respond to evolving customer requirements and emerging market opportunities.
The directors and substantial shareholder of the company, Telecard Limited, have confirmed their intention to subscribe to, or arrange subscription for, their respective rights entitlements.
Any remaining portion of the issue will be underwritten in accordance with applicable laws and regulations.
As governments and enterprises accelerate investments in digital infrastructure, cybersecurity and mission-critical technology platforms, Supernet believes its expanded capabilities, regional presence and strengthened capital position will enable it to benefit from these long-term opportunities.