Karachi: The National Clearing Company of Pakistan Limited has announced a forthcoming change in the face value of shares for Thatta Cement Company Limited (THCCL), set to take effect on July 14, 2025. This announcement follows a notice, PSX/N-707, issued by the Pakistan Stock Exchange on July 3, 2025.

The transition is scheduled to start with a new trading and settlement schedule for both regular and leverage markets. The regular market will follow a T+2 settlement cycle for trades conducted on July 8, 2025, with settlement on July 10, 2025. Any pending deliveries from these trades will be squared up or closed out by July 11, 2025. For trades on July 10, 2025, a T+0 cycle will apply, with the same closing process on July 11, 2025. Notably, no netting will be permitted between T+2 and T+0 trades falling on the same settlement date, and the facility of all types of IDS will not be available for T+0 trading.

The leverage market will also experience adjustments. The last trading date for taking up new positions through the Margin Financing System (MFN) and Securities Lending & Borrowing (SLB) is set for July 8, 2025, with settlement on July 10, 2025. Following this, open positions in SLB and MFS will be forcibly released by the end of trading on July 9, 2025, with margin-financed securities being moved to the respective CDS sub-accounts.

According to information available from the Pakistan Stock Exchange (PSX), the pledging facility for THCCL shares in favor of the National Clearing Company of Pakistan Limited will be suspended on July 14, 2025, but will resume on July 15, 2025. This strategic adjustment is likely aimed at ensuring a smooth transition for stakeholders and maintaining market stability.

The changes are categorized as a moderate move within the designated market category. Market participants are advised to take note of these changes and adjust their trading strategies accordingly to align with the new schedule and requirements.