Zahur Cotton Mills completes transition to ITANZ Technologies

July 31, 2025 (MLN): ITANZ Technologies Limited has officially notified the completion of its transformation from Zahur Cotton Mills Limited (PSX: ZHCM), marking a significant milestone in the company’s strategic repositioning from textiles to the technology sector.

The transition follows the approval of the Merger Petition Order (C.O. No. 13792 of 2024) by the Honorable Lahore High Court on March 17, 2025.

The updated name and trading symbol have been duly registered and are now reflected across key regulatory platforms, including the Securities and Exchange Commission of Pakistan (SECP), the Pakistan Stock Exchange (PSX), and the Central Depository Company (CDC).

In a formal disclosure, ITANZ Technologies confirmed that it has obtained the CDC Eligibility Certificate, enabling shareholders to convert their holdings into electronic form, a key requirement for seamless trading and compliance with PSX norms.

The company also noted that it is actively addressing outstanding observations by the Pakistan Stock Exchange to facilitate its full reinstatement to the normal trading counter.

These include confirming its principal line of business, attaining CDC eligibility, and the formal commencement of commercial operations all of which have now been successfully addressed, according to the company.

The management has requested PSX to disseminate this material information to members and stakeholders, emphasizing the company’s commitment to transparency and regulatory compliance as it embarks on its new chapter in the tech space.

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