Sindh High Court Approves Supernet Merger With Supernet Technologies

On February 26, 2026, the Sindh High Court officially sanctioned the merger of Supernet Limited into Supernet Technologies Limited (STL), marking a pivotal moment in the restructuring of Telecard Limited's subsidiaries. This merger consolidates all assets, liabilities, and operations of Supernet Limited into STL, which will continue to operate as a listed entity on the Pakistan Stock Exchange (PSX). Post-merger, STL will issue 5.5 million fully paid-up ordinary shares to existing shareholders in a ratio of 11 shares for every one share held, alongside 101.62 million new shares to Supernet Limited shareholders, raising STL’s total paid-up capital to approximately PKR 1.076 billion, comprising 107.6 million ordinary shares. Telecard Limited will hold approximately 61.7% of STL, reinforcing its control over the group. As stated by STL, "We are pleased to announce that the Honourable High Court of Sindh at Karachi has allowed the petition, and sanctioned the scheme, pertaining to the proposed arrangement." (ProPakistani, February 26, 2026).