ITANZ advances 10-for-1 stock split plan

Mettis Global reported that iTANZ Technologies, listed on the PSX as ITANZ, has received in-principle board approval for a 10-for-1 split. The split would cut the face value of each ordinary share from Rs10 to Re1, with every existing share becoming ten. The board took the decision at a Monday meeting, following an earlier notice dated August 17, 2026, and the plan still needs shareholder and regulatory sign-off.

Paid-up capital would stay at Rs1,186.036m, while issued shares would rise from roughly 118.60m to about 1,186.036m, leaving each member's proportionate stake intact. Approval needs a special resolution backed by at least 75% of votes cast, to be sought at the AGM tentatively set for September 30, 2026. ITANZ closed at Rs45.41 on August 21, 2026, and the illustrative post-split price would be about Re4.54 with market capitalisation unchanged.

According to the briefing note, a lower per-share price and a larger share count are typically associated with better trading liquidity, and the company said a split does not currently attract the 10% withholding tax that the Finance Act 2023 reinstated on bonus shares. The company, however, cautioned that a split alone is not expected to lift the share price. Its review of 21 PSX companies that split in 2025 and 2026 found 10 rose and 11 fell afterward.