Karachi: iTANZ Technologies Limited, a prominent player in the technology sector, announced the approval of a 10-for-1 stock split during a board meeting held on Monday, August 24, 2026. The proposal is subject to shareholder approval and regulatory compliance.

The board of directors has decided to reduce the face value of each ordinary share from Rs. 10 to Re. 1, effectively increasing the number of issued shares from approximately 118.60 million to 1.186.04 million. Despite the increase in total shares, the company's paid-up capital will remain unchanged at Rs. 1,186.04 million, ensuring that shareholder ownership proportions are maintained.

According to information available from the Pakistan Stock Exchange (PSX), the proposed stock split aligns with iTANZ Technologies' strategic objectives. The company's market capitalization was approximately Rs. 5.39 billion as of the close of trading on Friday, August 21, 2026, with shares priced at Rs. 45.41 each. This valuation remains unaffected by the stock split, as the new illustrative share price would be Re. 4.54.

In line with regulatory requirements, iTANZ Technologies will seek member approval through a special resolution at the upcoming Annual General Meeting, tentatively scheduled for September 30, 2026. The company has authorized its CEO, any director, and/or the company secretary to manage the necessary formalities with the Securities and Exchange Commission of Pakistan (SECP), PSX, and the Central Depository Company (CDC).

The board has also approved amendments to the Memorandum and Articles of Association to reflect the revised share structure. Shareholders will receive a comprehensive briefing note to facilitate informed decision-making ahead of the General Meeting. The company emphasizes that the stock split will not affect its net assets, earnings, or any member's proportionate shareholding, nor will it require any cash outlay.

The closed period declared from August 17 to August 24, 2026, has concluded, and the company remains committed to adhering to continuous disclosure requirements as per the PSX Rule Book.