Karachi: Bank Alfalah Limited (BAFL) has announced a change in the face value of its shares, effective from April 18, 2026. The bank, in a letter dated April 9, notified stakeholders through the Pakistan Stock Exchange (PSX) about the reduction in the face value of its shares from PKR 10 to PKR 5, necessitating an adjustment in trading and settlement cycles.

The modified settlement cycle will be implemented on April 17, 2026, requiring same-day settlement (T+0) due to the stock split. Normal settlement on a T+1 basis will resume on April 20, 2026, the first business day after the book closure. This adjustment aligns with BAFL’s status as a DFC (Daily Forward Contracts) eligible security, as trading and settlement schedules have been established accordingly.

According to information available from the Pakistan Stock Exchange (PSX), the trading schedule for contracts with entitlement (APRB, MAYB, JUN) will close on April 15, 2026, with settlement on April 16, 2026. Contracts without entitlement (APRC, MAYC, JUNB) will operate from April 13, 2026, with varying closing and settlement dates across April, May, and June.

Trades in BAFL during the overlapping period from April 13 to April 15, 2026, will not be eligible for entitlements and will proceed on an ex-benefit basis. As BAFL is also a CSF (Continuous Settlement Futures) eligible security, trading in CSF contracts will transition to non-standardized contracts from April 20, 2026, without altering the existing trading and settlement timetable.

The adjustment to the face value will result in the opening price of BAFL shares on April 20, 2026, being half of the closing price recorded on April 17, 2026. Despite the increase in the total number of shares from 1,577,165,119 to 3,154,330,238, the bank’s paid-up capital remains unchanged.