The Board of Directors of ITANZ Technologies Limited has approved a 317 percent increase in the company’s authorized share capital, along with the issuance of interim bonus shares, according to a notice submitted to the Pakistan Stock Exchange. Subject to shareholder approval through a special resolution, the company plans to raise its authorized share capital from Rs1.2 billion to Rs5 billion, increasing the number of ordinary shares from 120 million to 500 million, with the relevant clauses of its Memorandum and Articles of Association to be amended once the necessary regulatory approvals are obtained.
The board also approved an interim bonus issue of 10 percent, equivalent to 10 bonus shares for every 100 shares held, to be funded through the capitalisation of the company’s free reserves and retained earnings. The company said the decision reflects its sustained profitability and earnings growth, allowing it to reward shareholders without any cash outflow while strengthening its equity base and improving the free float and liquidity of its shares.
The company’s share transfer books will remain closed on July 21 to determine shareholders eligible for the bonus shares, with those whose names appear in the register of members or Central Depository System accounts at the close of business on July 20 qualifying for the issue. The proposed increase in authorised share capital will be presented to shareholders for approval at an Extraordinary General Meeting, with a formal notice to be issued separately.
ITANZ Technologies, formerly known as Zahur Cotton Mills Limited, transitioned from textile manufacturing to information technology services following a reverse merger with ITANZ Technology Private Limited approved by the Lahore High Court in March last year. The company now operates as a software development and consulting firm, offering services spanning advisory and consulting, business applications, cloud services, data integration, and managed services to both local and international clients, alongside consultancy in IT enabled services.
The company has reported strong financial performance since its transition into the technology sector, recording a net profit of Rs344.8 million for the 2025 financial year, up nearly 118 percent year on year, with earnings per share rising to Rs34.97 from Rs16.06 the previous year. The company’s operating profit margin also strengthened to over 63 percent, supported in part by a sharp rise in other income and effective cost control measures. The latest capital restructuring and bonus share issue reflect the company’s continued efforts to strengthen its financial position as it works to expand both its local and export focused technology business, with ITANZ describing plans to add further revenue growth over the coming year as it builds out its position as a listed technology company on the Pakistan Stock Exchange.
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