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RAWALPINDI, Nov 24 (APP):An Australian-based IT solutions provider iTANZ has entered in Pakistan by employing an innovative reverse merger strategy. Owning global entities from Australia and New Zealand to the UK and other parts of the world, iTANZ’s entry in Pakistan Stock Exchange (PSX) is a depiction of trust in government’s business friendly policies and opportunities for foreign direct investment (FDI).
The development was announced during an exclusive orientation session which was held at the Rawalpindi Chamber of Commerce and Industry (RCCI) on Monday, where the iTANZ Group Managing Director, Ahmad Bilal and Chief Executive Officer Syed Asim Zafar briefed the gathering of traders and investors.
The MD revealed in his briefing that the company acquired Zahoor Cotton Mills which had ceased operations and eventually defaulted. Instead of letting the entity remain dormant, iTANZ cleared all outstanding legal and financial liabilities, restructured and completely transformed it from cotton manufacturing into a modern IT and digital solutions enterprise. The executives described this approach as a classic example of their globally recognized “reverse merger strategy.”
Operating in more than twenty cities across Australia, with an established presence in New Zealand, the Middle East, and the United Kingdom, iTANZ has built a strong reputation for delivering large-scale digital infrastructure, metropolitan and city- scaled projects, and also supporting National Health Service initiatives in the UK.
Speaking at the event, Ahmad Bilal emphasized that the restructured Pakistani entity is now fully compliant with all PSX regulations, undergoes regular audits and is partnered with leading legal and financial firms to ensure complete transparency and governance maturity.
The CEO iTANZ, Syed Asim Zafar extended an open invitation to Pakistan’s business community, saying that there is no minimum or maximum investment threshold. Any trader or investor, regardless of scale, can now purchase shares in a globally operating, revenue-generating company, which is now appearing in PSX list, and will be operational in a couple of weeks.
RCCI President Usman Shaukat welcomed the initiative and said that the reverse merger model is gaining international acceptance, including in the United States, where economic policies under the President Trump encouraged similar strategies to revive domestic industries. He highlighted that Pakistan’s textile and pharmaceutical sectors contain numerous dormant assets that could be revitalized through reverse merger strategy.
The company’s leadership also underscored that it maintains gender balance in its global workforce, with 50% men and 50% women. Moreover, 60% of its employees work remotely. Additionally, the Group MD informed the participants that the company actively collaborates with universities to identify and train fresh graduates, guiding them toward entrepreneurship.
The participating traders and business community reps appreciated the entrance of a new firm in Pakistan and hailed the development as a historic moment that could pave the way for increased foreign direct investment (FDI)in Pakistan.