WAVESAPP to raise Rs1.5bn via 56% right issue

Waves Home Appliances Limited (PSX: WAVESAPP) will raise its paid-up capital by issuing 150,015,772 right shares, its Board of Directors decided at a meeting held on 23 July 2026. The right shares, having a face value of Rs10 each, will be offered to existing shareholders in the ratio of 56 shares for every 100 shares held, i.e. 56.00% of the company's existing paid-up capital. The shares will be issued at Rs10 each, at par and without any premium. Following the issue, the company's paid-up share capital will increase from Rs2,678,853,070 to Rs4,179,010,790. The new shares will rank pari passu with the company's existing ordinary shares in all respects.