Key Takeaways
- Supernet Technologies Limited (STL) has approved a rights issue of approximately Rs914.77 million.
- The funds will be used to strengthen the company’s capital base and support its expanding technology projects.
- The decision follows significant strategic and operational transformations, including the merger with Supernet Limited.
Supernet Technologies Limited (STL) has announced that its Board of Directors has approved a rights issue worth approximately Rs914.77 million to bolster the company’s financial position and support its expanding portfolio of technology projects.
According to STL, the rights issue involves the issuance of 91,476,554 ordinary shares at Rs10 per share, with eligible shareholders receiving approximately 85 rights shares for every 100 ordinary shares held. This represents around 85% of the company’s existing paid-up capital.
The decision to proceed with this rights issue comes after a period of significant strategic and operational transformation for Supernet Technologies. The company has recently completed its merger with Supernet Limited, expanded its regional footprint through the Supernet Global platform, and continued growth across various technology segments including digital infrastructure, cybersecurity, cloud services, connectivity, managed services, enterprise networking, and technology integration.
The merger has created a larger and more diversified technology platform, bringing together complementary capabilities 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.
Supernet Technologies has secured a series of significant projects across cybersecurity, enterprise technology, and communications infrastructure, alongside expanding its regional market presence. The company recently announced the award of a contract valued at approximately Rs1 billion for the enhancement and modernisation of critical communications infrastructure in Pakistan.
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 company’s strategic progress is increasingly being reflected in its commercial performance.
