December 08, 2025 (MLN): Chakwal Spinning Mills Limited (PSX:CWSM) shares surged 10% after it received approval to rebrand as Quantum Data Technologies Limited and move into the IT sector, revising its business objectives.

According to the company’s on PSX today, the  approvals include altering Object Clause III of the Memorandum of Association with a new clause aligned with the company’s updated business direction, as well as adopting Table B of the First Schedule to bring the memorandum in line with statutory requirements and the revised business plan.

The market reacted positively to the transition, at the time of writing, CWSM is being traded at Rs47.2, up Rs4.29 (10%).

The company previously operated in the textile sector, with its main business focused on establishing, acquiring, running, managing, and operating textile mills of all types.

Under the newly approved changes, the company has transitioned into the information technology sector.

Its new principal line of business includes providing IT and IT-enabled services such as importing, exporting, selling, purchasing, trading, production, distribution, customization, and development of software, applications, programs, mobile and web applications, portals, internet services, marketplaces, cloud stations, and related products and services.

SECP has issued the Certificate of Incorporation on Change of Name dated December 5, 2025.

Under the Companies Act, 2017, the company will continue to mention its former name alongside the new one for 90 days from the issuance of the certificate.

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