iTANZ Technologies approves 10-for-1 stock split

Business Recorder reported that iTANZ Technologies, previously called Zahur Cotton Mills, has cleared a plan to subdivide its ordinary shares on a 10-for-1 basis. Each share with a Rs10 face value would become ten shares carrying a face value of Re1. The company disclosed the decision to the PSX on Monday, and completion depends on shareholder consent and regulatory steps.

The paid-up capital stays at Rs1.186 billion, but the number of issued shares rises from about 118.6 million to 1.186 billion. The proposal goes to members as a special resolution at the AGM, tentatively set for September 30, 2026, and needs at least 75% of votes cast. The company argues that net assets and earnings do not change, and that no cash outlay or dilution of existing holders is involved.

The company says the aim is better trading liquidity and easier access for retail and first-time investors, citing a lower per-share price. At Rs45.41 on August 21, the illustrative post-split price would be about Rs4.54, while market capitalisation of roughly Rs5.39 billion would stay the same immediately after the split, barring market movements.