Supernet Technologies allots 107 million shares under merger scheme with Supernet Limited

Supernet Technologies Limited has approved the issuance of over 107 million shares as part of its capital reorganisation and merger with Supernet Limited, following implementation of a court-sanctioned scheme of arrangement.

In a notice to the Pakistan Stock Exchange, the company said its board approved the allotment of 5.5 million shares to existing shareholders and 101.62 million shares to shareholders of Supernet Limited under the approved swap structure.

The share issuance follows the merger of Supernet Limited into Supernet Technologies under a scheme sanctioned by the Sindh High Court in February 2026.

Under the arrangement, Supernet Technologies shareholders will receive shares based on a defined ratio, while shareholders of the merged entity will be issued shares based on a swap ratio of approximately 1.68 shares of Supernet Technologies for each share held.

The company said fractional entitlements arising from the swap ratio will not be issued and will instead be consolidated, with proceeds to be donated to a charitable institution after disposal.

Supernet Technologies added that management has been authorised to complete all remaining formalities required under the scheme.

The company also confirmed that it will continue trading on the main board of the Pakistan Stock Exchange following the restructuring.