Supernet Technologies Limited (PSX: STL) has approved a rights issue of approximately Rs914.77 million to enhance its capital base and support its growing technology projects. The company will issue 91,476,554 ordinary shares at Rs10 per share, offering around 85 rights shares for every 100 ordinary shares held by eligible shareholders.

This decision follows a strategic transformation, including the merger with Supernet Limited and expansion through the Supernet Global platform. The merger has strengthened Supernet’s ability to deliver integrated solutions across various sectors. 

Supernet is actively pursuing business opportunities in the UAE and beyond, including a recent contract worth Rs1 billion for enhancing communications infrastructure in Pakistan. The rights issue aims to improve the company’s financial position and ability to meet evolving customer needs. Key shareholders have indicated their intent to subscribe for the rights entitlements, with any remaining portion underwritten in accordance with regulations. 

The company is positioned to benefit from increasing investments in digital infrastructure and cybersecurity across the region.