The Board of Directors of Supernet Technologies Limited has approved, in principle, a potential rights issue of ordinary shares. This decision was made during a meeting on June 1, 2026, in Karachi.

The proposed rights issue could raise up to PKR 914.76 million, subject to final Board approval, with shares offered at a price not exceeding PKR 10 per share. The proceeds are intended to support working capital for upcoming projects aimed at enhancing the company’s operational performance and growth.

A portion of the funds may also finance Supernet Technologies’ acquisition of a 51% shareholding in Supernet Limited from Telecard Limited, pursuant to a Share Purchase Agreement dated February 15, 2024. The in-principle approval enables shareholders to obtain the necessary corporate approvals to participate in the rights issue.

The Board plans to announce the actual rights issue at a later date, in compliance with laws and regulations.