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Supernet Technologies’ Rs915mn rights issue attracts 98.16% subscription
Supernet Technologies Limited (PSX: STL) has received subscriptions of nearly Rs898 million against its rights issue of approximately Rs914.77 million, reflecting a subscription rate of 98.16%. According to a notice submitted to the Pakistan Stock Exchange (PSX) on Monday, only 1.84% of the rights issue remained unsubscribed following the completion of the subscription process. The company had announced an 85% rights issue at Rs10 per share to raise approximately Rs915 million. The proceeds are intended primarily to strengthen STL’s working capital position, support the execution of larger and...
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