An ICT service provider and a subsidiary of Telecard Limited by the name of Supernet is likely to get listed at Pakistan Stock Exchange (PSX).
The board of directors of its parent company Telecard Limited has authorized the management of the company to explore the option for listing its subsidiary Supernet Limited, a notification submitted to the stock exchange detailed.
Accordingly, the management is authorized to take the initial steps to proceed with the same, including the appointment of an advisor, the stock filing said.
Supernet offers a range of enabling ICT solutions including internet, IT infrastructure, cybersecurity, software development, etc. It operates in more than 200 locations in Pakistan, providing services to corporate customers.
Telecard Limited is a profitable listed company, and reported a profit of Rs. 334 million during the nine months of the current financial year 2020-21.
The balance sheet of the company improved from losses to handsome profitability within a year due to the pandemic, which has brought various opportunities for the company in the local market.
Cognizant of the emerging opportunities due to the pandemic, Telecard is expanding its footprint into Enterprise Security Solutions and Business Process Software platforms by forming global alliances and leveraging in-house expertise to deliver the best in class solutions to its customers through its subsidiaries.
It is keen on enhancing its footprint in the technology sector while growing its existing business lines.