Millat Tractors Limited has proposed a share split, seeking shareholder approval to subdivide its stock in a move aimed at improving liquidity and making the shares more accessible to a broader base of investors.

According to a notice issued to the Pakistan Stock Exchange, the company’s board has recommended reducing the face value of its shares from Rs. 10 to Rs. 5, effectively resulting in two shares for every one share currently held.

If approved, the move will increase the number of outstanding shares from around 199.5 million to approximately 399 million.

The company said the proposed split is intended to enhance trading liquidity and attract a wider range of investors. To give effect to the change, Millat Tractors will also amend its memorandum of association to reflect the revised share structure.

The company has scheduled an Extraordinary General Meeting for June 5, 2026, at its registered office in Lahore, where shareholders will vote on the proposal.

Millat Tractors said its share transfer books will remain closed from May 30 to June 5, 2026, to determine shareholders eligible to attend and vote at the meeting.

Founded in 1964, Millat Tractors is one of Pakistan’s largest agricultural machinery manufacturers and produces Massey Ferguson tractors in the country.