Supernet Technologies Limited (STL) has approved a rights issue of approximately PKR 914.8 million to strengthen its capital base, support a growing pipeline of technology projects and position the company for its next phase of growth.
The company's board of directors approved the issuance of 91.48 million ordinary shares at PKR 10 each, equivalent to approximately 85 rights shares for every 100 ordinary shares held by eligible shareholders.
The rights issue, representing about 85% of the company's existing paid-up capital, remains subject to regulatory and legal approvals.
The capital raise comes after a period of strategic transformation for Supernet, including its merger with Supernet Limited, expansion into regional markets through its Supernet Global platform and continued growth in digital infrastructure, cybersecurity, cloud services, connectivity, managed services, enterprise networking and technology integration.
The merger created a larger and more diversified technology platform by combining complementary capabilities, allowing the company to provide integrated and secure technology solutions to governments, enterprises and critical infrastructure customers.
Supernet is also expanding its presence in the United Arab Emirates to pursue opportunities across the Middle East, Africa and Central Asia while strengthening its position in Pakistan.
The company's strategic initiatives are beginning to translate into commercial gains. Supernet has secured several projects in cybersecurity, enterprise technology and communications infrastructure while expanding its regional footprint.
Most recently, the company announced a contract worth approximately PKR 1 billion to modernize critical communications infrastructure in Pakistan. The project, the largest contract in the company's history, is expected to contribute to revenue and profitability during fiscal year 2026-27.
Supernet said it continues to pursue opportunities in digital infrastructure, cybersecurity, connectivity and enterprise technology solutions across Pakistan and regional markets.
The company said the rights issue will strengthen its balance sheet, optimize its capital structure and enhance its ability to meet growing customer demand and capitalize on emerging market opportunities.
Telecard Limited, Supernet's substantial shareholder, along with the company's directors, has confirmed its intention to subscribe to, or arrange subscriptions for, its respective rights entitlement. Any unsubscribed portion of the issue will be underwritten in accordance with applicable laws and regulations.
Supernet said increasing investments by governments and enterprises in digital infrastructure, cybersecurity and mission-critical technology platforms are expected to create long-term growth opportunities, supported by the company's expanded capabilities, regional presence and stronger capital position.
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