iTANZ Technologies approves 10-for-1 stock split
iTANZ Technologies Limited, formerly known as Zahur Cotton Mills Limited, board has approved a proposal to split the company’s ordinary shares by 10-for-1, reducing the face value from Rs10 to Re1. The split is subject to shareholders’ approval and completion of regulatory requirements, the company said in a notice to the Pakistan Stock Exchange (PSX) on Monday. Under the proposal, each existing…
iTANZ Technologies Limited, previously known as Zahur Cotton Mills Limited, recently approved a 10-for-1 stock split for its ordinary shares. The company announced the proposal to the Pakistan Stock Exchange (PSX) on Monday, subject to shareholders' approval and regulatory compliance. The split would convert each Rs10 share into ten shares valued at Re1, keeping the paid-up capital at Rs1.186 billion and increasing the number of shares from around 118.6 million to 1.186 billion.
The move aims to enhance trading liquidity and make shares more accessible to retail and first-time investors. iTANZ Technology’s shares were trading at Rs45.41 as of August 21, with an anticipated post-split price of around Rs4.54. The company's market capitalization remains unchanged immediately following the split. iTANZ Technologies was incorporated in Pakistan in 1990, merging with ITANZ Technology Private Limited in March 2025.
The company now focuses on software development, installation, consultancy services, and IT-related supplies.
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