The Pakistan Stock Exchange (PSX) has issued a detailed notice outlining trading and settlement adjustments linked to a stock split by Bank Alfalah Limited, which will reduce the face value of its shares from Rs10 to Rs5.

The corporate action will come into effect following the company’s book closure scheduled for April 18, 2026, requiring temporary changes to trading procedures on the exchange.

Under the revised schedule, BAFL shares will trade on a same-day (T+0) settlement basis on April 17 to facilitate the transition caused by the split. Regular T+1 settlement trading will resume on April 20, the first working day after book closure, when the stock begins trading under its adjusted price structure.

PSX also released an updated trading calendar for entitlement contracts covering the April, May and June series. These contracts will follow defined opening, closing and settlement timelines, while ex-entitlement contracts will trade separately and will not qualify for stock split benefits.

As a security eligible under the Cash Settled Futures framework, BAFL will move into revised non-standardised contract categories starting April 20, aligning derivatives trading with the updated share structure.

Following the adjustment, the bank’s total outstanding shares will increase from approximately 1.57 billion shares to 3.15 billion shares, effectively doubling the share count without altering paid-up capital or shareholders’ proportional ownership.

The exchange confirmed that the stock’s opening price on April 20 will automatically be adjusted to half of its closing price on April 17, reflecting the new face value after implementation of the stock split.