Karachi: Thatta Cement Company Limited (THCCL) has announced a significant change in the face value of its shares, effective July 14, 2025. The company will modify the face value of its shares from PKR 10 to PKR 2, as announced on July 3, 2025. This alteration is part of a strategic move to increase the total number of shares from 99.72 million to 498.59 million while maintaining the company's paid-up capital unchanged.

The Pakistan Stock Exchange (PSX) has notified market participants of the book closure, scheduled for Saturday, July 12, 2025. As a result of this stock split, trading in THCCL shares will be subject to a modified settlement cycle. The trading days of BC-2 and BC-1, which fall on Thursday, July 10, 2025, and Friday, July 11, 2025, will operate on a T+0 basis, meaning same-day settlement. On July 14, 2025, the normal T+2 settlement cycle will resume, with prices adjusted accordingly.

According to information available from the Pakistan Stock Exchange (PSX), THCCL is a DFC eligible security, which necessitates specific trading schedules for contracts with and without entitlement. Contracts JUL, AUG, and SEP, opened on April 28, June 2, and June 30, respectively, will close on July 8, 2025, with settlement on July 10, 2025. In contrast, contracts JULB, AUGB, and SEPB opened on July 7, 2025, will close at later dates, with overlapping trading days on July 7 and July 8, 2025.

The opening price of THCCL shares on July 14 will be one fifth of the closing price on July 11, reflecting the stock split. Market participants are advised that trades during the JULB, AUGB, and SEPB contracts will not qualify for entitlement and will trade on an ex-benefit basis.

THCCL has provided detailed guidelines for the stock split process to ensure clarity and consistency in trading activities. These guidelines include adjustments in both the Ready and Futures Markets, with specific provisions for trading and settlement mechanisms. Collateral valuation will also see changes, with securities pledged against collateral valued at market price until the book closure date. The pledging facility will temporarily be unavailable on BC+1 but will resume from BC+2.