The Pakistan Stock Exchange (PSX) has announced key trading and settlement adjustments following a stock split by Bank Alfalah Limited (PSX: BAFL), which will reduce the face value of its shares from Rs. 10 to Rs. 5.
The corporate action will take effect after the bank’s book closure scheduled for April 18, 2026, and will temporarily modify trading mechanics and settlement cycles for the security.
BAFL shares will trade on a T+0 settlement basis on April 17, 2026, under BC-1 activity to accommodate the impact of the stock split. Normal trading operations will resume from April 20, 2026, the first working day after book closure, when shares begin reflecting the adjusted price structure under the standard T+1 settlement cycle.
The exchange has also outlined revised timelines for entitlement contracts, including APRB, MAYB and JUN series, specifying separate opening, closing and settlement schedules extending into May 2026.
Ex-entitlement contracts (APRC, MAYC and JUNB) will trade independently and will not qualify for entitlement benefits, operating strictly on an ex-benefit basis.
BAFL will move into non-standardized contract categories such as BAFL-CAPRN2, BAFL-CMAYN2 and BAFL-CJUNN1 from April 20.
The exchange clarified that the broader trading framework remains unchanged apart from revised contract specifications linked to the corporate action.
Following the face value revision, Bank Alfalah’s total outstanding shares will increase from 1.57 billion to 3.15 billion shares; so 2x share count and keeping the bank’s paid-up capital unchanged.
Under the new structure, the opening market price on April 20 will automatically adjust to half of the closing price recorded on April 17.
