Quantum Data Technologies begins IT and allied services operations

Quantum Data Technologies Limited, formerly Chakwal Sppining Mills, has informed the Pakistan Stock Exchange that it has entered a new line of business related to information technology and allied services and has commenced commercial operations in the sector.

In a notice submitted under Clause 5.6.1 of the PSX Regulations and Section 96 of the Securities Act, 2015, the company said the move follows approval from shareholders and relevant regulatory authorities to change the company’s principal line of business and corporate name.

The company stated that the new business line marks a step in its strategic transformation and will allow it to pursue opportunities in the information technology sector.

It also informed that an auditors’ certificate confirming the commencement of business and commercial operations in the new business segment has been submitted in accordance with PSX regulatory requirements.

The company said the new business line is expected to support its growth, profitability and long-term sustainability.

Quantum Data Technologies said it had completed the required regulatory and operational steps before launching operations in the new sector and thanked shareholders for their support during the transition.