Supernet Limited Board Approves Merger Exploration with Supernet Technologies Limited

By Tehniyat Zafar ⏐ 3 weeks ago ⏐ Newspaper Icon Newspaper Icon 2 min read
Supernet Limited Board Approves Merger Exploration With Supernet Technologies Limited

Karachi: The Board of Directors of Supernet Limited (PSX: GEMSPNL) has authorized the company to explore a potential merger with Supernet Technologies Limited (STL), formerly known as Hallmark Company Limited. During a meeting held today at the company’s corporate headquarters, the board authorized the development of merger terms, commenced discussions with STL, and authorized feasibility studies and valuations to evaluate the viability of the proposed consolidation.

The company has also been empowered to engage legal, financial, and strategic advisors to facilitate the process. Additionally, the board has now approved the preparation of draft documents about the proposed arrangement, which will require further evaluation and approval from relevant parties. The proposed merger is a critical strategic step to consolidate operations while extending market reach and enhancing operational processes.

Supernet Limited opted to adopt this advancement after several organizational restructuring processes. Supernet Infrastructure Solutions (SuperInfra) from Supernet Limited completed a reverse merger with Hallmark Company Limited in August 2023 and renamed itself Supernet Technologies Limited. During this business transaction, SuperInfra acquired 81.4% of Hallmark’s stock, giving it complete control.

Since its establishment in 1995, Supernet Limited has been Pakistan’s leading telecommunications service provider, offering satellite and microwave communication options, as well as internet and IT infrastructure solutions to customers in banking, oil and gas, manufacturing, and government. Supernet Technologies Limited is focused on IT-enabled export services to help Pakistan’s digital economy.

Related Posts

CCP Flags Transparency Issues in PTCL-Telenor Merger Review

By Tehniyat Zafar ⏐ 2 days ago

Islamabad: State Minister for Information Technology and Telecommunication Shaza Fatima Khawaja informed the National Assembly on Friday that the Competition Commission of Pakistan (CCP)…

Illegal SIM Card Issuance

Top Cybercrime Official Warns Against Pre-Activated International SIMs in Pakistan

By Tech Desk ⏐ 2 days ago

ISLAMABAD: Pre-activated international SIMs in Pakistan have become a growing security concern, according to senior officials at the Cybercrime Wing of the Federal Investigation…

Get Alerts