Zahur Cotton Mills completes merger, transitions to Itanz Technologies Limited

Zahur Cotton Mills Limited (ZHCM) has officially completed its transition to Itanz Technologies Limited (ITANZ) following the approval of the merger petition by the Lahore High Court. 

The company confirmed the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday.

“We are pleased to inform you that our company, formerly known as Zahur Cotton Mills Limited (ZHCM), has successfully completed its transition to Itanz Technologies Limited (ITANZ),” the disclosure stated. The merger was approved under the Merger Petition Order dated March 17, 2025, issued by the Lahore High Court.

The updated company name and symbol have been registered with the Securities and Exchange Commission of Pakistan (SECP), the Pakistan Stock Exchange (PSX), and the Central Depository Company (CDC). 

The company also confirmed that it has secured the CDC Eligibility Certificate, allowing shareholders to convert their shares into electronic form.

ITANZ further stated that it is addressing the observations raised by the PSX to facilitate the company's reinstatement to the normal trading counter. The company confirmed that key requirements, such as CDC eligibility, definition of its principal line of business, and the commencement of commercial operations, have already been met.