ITANZ Technologies approves over Rs4bn investment

June 08, 2026 (MLN): ITANZ Technologies Limited's board has approved an investment of up to AUD21.86 million (approximately Rs4.34 billion) to acquire a 51% stake in Australia-based ITANZ Infinity Pty Limited.

This marked a significant expansion of the company's international footprint.

According to a notice submitted to the Pakistan Stock Exchange (PSX) on Saturday, the investment will be made in the associated company over a five-year period under mutually agreed terms.

The company said it will become entitled to dividends from the date of transfer of shares, despite the staggered settlement schedule.

The proposed transaction is subject to shareholder approval under Section 199 of the Companies Act, 2017.

To seek the requisite consent, the company has convened an Extraordinary General Meeting (EOGM) on June 27, 2026, at the LSE Auditorium in Lahore, with participation also available through a virtual platform.

The acquisition would give ITANZ Technologies a controlling interest in ITANZ Infinity Pty Ltd, strengthening its presence in the Australian market and potentially enhancing its access to international business opportunities.

Further details regarding the strategic rationale and financial impact of the investment were not disclosed in the filing.

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