Karachi: The Central Depository Company of Pakistan Limited has announced the successful issuance of 7,040,708 ordinary shares of Tariq Corporation Limited, replacing its preference shares, as of October 2, 2026. The conversion process adhered to a 2:1 ratio, meaning that for every two preference shares, one ordinary share was issued.

The transaction was finalized at the close of business on October 2, with the new shares duly credited into the respective accounts within the Central Depository System. This development follows the confirmation letter dated October 2, 2026, regarding the conversion.

According to information available from the Pakistan Stock Exchange (PSX), the transition marks a significant strategy shift by Tariq Corporation Limited, as the preference shares have been revoked from the Central Depository System, consolidating the company's equity structure.

This move places Tariq Corporation Limited within a designated market category that reflects its new equity framework, potentially impacting its standing in the market.