Pakistan court allows merger of Supernet and Supernet Tech
TL;DR
A Pakistan court has provisionally approved the merger of Supernet Limited into Supernet Technologies Limited, consolidating operations under a unified structure to enhance efficiency. Shareholders will receive new STL shares, with final approval pending regulatory clearances.
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Pakistan court allows merger of Supernet and Supernet Tech
Pakistan Court Approves Merger of Supernet and Supernet Technologies
The High Court of Sindh in Karachi has provisionally sanctioned the merger of Supernet Limited (GEMSPNL) into its parent company, Supernet Technologies Limited (STL), marking a key step in the firms' corporate restructuring plans. The merger, approved by shareholders and now pending final regulatory clearances, aims to consolidate operations under a unified corporate structure to enhance efficiency and shareholder value according to court documents.
Under the proposed arrangement, all assets, liabilities, and operations of Supernet Limited will be amalgamated into Supernet Technologies Limited. Shareholders of Supernet Limited will receive approximately 1.68 ordinary shares of STL for every one share held, resulting in the issuance of 101,619,475 new STL shares to existing Supernet shareholders. Post-merger, Supernet Limited will be delisted from the PSX and dissolved without winding up.
The transaction aligns with Section 279–283 of Pakistan's Companies Act, 2017, which governs mergers and amalgamations. While the High Court has provisionally approved the plan, final sanction remains conditional on regulatory reviews and compliance with court-mandated provisions.
Supernet Technologies, a major player in Pakistan's ICT and telecom infrastructure sector since 1995, cited streamlined governance and resource consolidation as primary objectives of the merger. The company, listed on the PSX, previously operated Supernet Limited on the GEM Board, making it the first technology firm to be listed there.
Further updates will follow after the court's formal sanction and completion of regulatory formalities. The merger reflects broader industry trends toward structural optimization amid evolving market dynamics.
Profit.Pakistantoday.com.pk, June 27, 2025: Profit.Pakistantoday.com.pk, June 27, 2025
Brecorder.com, June 27, 2025: Brecorder.com, June 27, 2025
