What iTANZ’s Rs4.3 billion investment in its Australian subsidiary will buy

For most of its life on the Pakistan Stock Exchange, the company now known as iTANZ Technologies Ltd was not a technology company at all. It was Zahur Cotton Mills, a small textile manufacturer whose operations had fallen into suspension, whose balance sheet carried accumulated losses, and whose listing had become a reminder of a familiar problem in Pakistan’s capital markets: too many listed companies were shells of their former selves, kept alive more by legal existence than by operating ambition.

That makes the latest announcement from iTANZ all the more striking. The company has now told shareholders that its board has approved an investment of up to A$21.86 million, or approximately Rs4.34 billion, to acquire a 51% stake in ITANZ Infinity Pty Ltd, an Australian company already associated with the same sponsor group. The investment is to be settled over five years, subject to State Bank of Pakistan approval and other regulatory formalities. iTANZ will become entitled to dividends from the date the shares are transferred. Shareholders are being asked to approve the transaction at an extraordinary general meeting in Lahore on June 27, 2026.