Lahore: First National Equities Limited (FNEL) has announced the closure of its share transfer books on January 31, 2026, as part of its strategic move to sub-divide its shares following approval from the Securities and Exchange Commission of Pakistan (SECP). The announcement, dated January 23, 2026, marks a significant development for shareholders looking to adjust their portfolios in response to the corporate action.
The SECP has given the green light for amendments to FNEL’s Memorandum and Articles of Association, enabling a reduction in the face value of shares from Rs.10 each to Rs.1 each. As a result, existing shareholders will receive ten new ordinary shares of Rs.1 each for every single ordinary share of Rs.10 held. This book closure will determine the entitlement of shareholders to the sub-divided shares, ensuring that only those on the Register of Members by the close of business on January 31, 2026, will benefit from the changes.
According to information available from the Pakistan Stock Exchange (PSX), this move is in compliance with clause 5.6.9(B) of the Listing Regulations, requiring FNEL to inform the Exchange before any public announcement. This ensures transparency and allows the Exchange to disseminate the information to its members and TREC holders promptly.
Shareholders who hold physical share certificates are required to surrender their original certificates, along with verified transfer deeds and an attested copy of their CNIC, to the company’s Share Registrar, CORPTEC Associates (Pvt.) Limited, located at 503 – E, Johar Town, Lahore, after January 31, 2026. This step is crucial for the issuance of new share certificates, as all existing certificates will be cancelled at the end of the month.
This corporate action is expected to have implications for FNEL’s designated market category, as the sub-division of shares could potentially alter market perceptions and valuation metrics. Shareholders and market participants will be closely monitoring the impact of these changes on FNEL’s market performance in the coming weeks.