KARACHI, Jan 31: The Karachi Stock Exchange has cleared the prospectus of Southern Networks Limited, KSE Managing Director M. Fudda said here on Friday.

The total capital of the company is Rs500 million, out of which an amount of Rs150 million is being offered to the general public and employees of the company.

The company is seeking public subscription to meet the part of the cost of the expansion project of Rs440 million for Digital Television Services via Wireless Connection through Multipoint Multi Channel Distribution System (MMDS).

The expansion project is financed through equity issue of sponsors, private placement and public offer, he said.

After the approval of the SECP, the company will also arrange presentation in the Karachi Stock Exchange auditorium before opening/closing of subscription, he added.-APP