Lahore: In a move that signals a significant restructuring of its capital framework, Beco Steel Limited announced the successful crediting of sub-divided ordinary shares to shareholders’ accounts as of November 15, 2025. The development follows the company’s earlier announcement on October 6, 2025, regarding the subdivision of shares, reducing the face value from Rs. 10 to Rs. 1 each.
The restructuring, approved during the company’s General Meeting on October 28, 2025, involved a transformation of the subscribed and paid-up capital from 124,962,510 ordinary shares of Rs. 10 each to 1,249,625,100 shares of Rs. 1 each. This change maintains existing shareholder rights and privileges.
Shareholders holding physical certificates are requested to exchange them for new ones through the company’s Registrar, M/S Hameed Majeed Associates (Private) Limited, based in Lahore. This process underscores the company’s adherence to regulatory requirements and ensures a seamless transition for investors.
The restructuring was accompanied by an increase in the authorized share capital from Rs. 1.5 billion to Rs. 3 billion. According to information available from the Pakistan Stock Exchange (PSX), this alteration aligns with the guidelines for listed companies regarding stock splits, fulfilling compliance obligations.
In addition to the capital restructuring, the company ratified transactions with related parties and authorized directors to approve future transactions subject to shareholder ratification in the next Annual General Meeting.
The certified auditor’s report confirmed the total number of shares post-restructuring, reassuring stakeholders of the move’s accuracy and compliance with the Institute of Chartered Accountants of Pakistan guidelines. The certificate was submitted to the PSX as required, marking the completion of the restructuring initiative.