Bank Alfalah Limited will undergo a stock split, reducing the face value of its shares from Rs10 to Rs5, following a book closure scheduled for April 18, 2026. The adjustment will double the total number of shares outstanding while keeping the bank’s paid-up capital unchanged.
Following the face value adjustment, the total number of shares of Bank Alfalah Limited will increase from 1,577,165,119 to 3,154,330,238 , while the paid-up capital will remain unchanged.
| Aspect | Before Split | After Split |
|---|---|---|
| Face Value per Share | Rs10 | Rs5 |
| Total Number of Shares | 1,577,165,119 | 3,154,330,238 |
| Paid-Up Capital | Unchanged | Unchanged |
| Opening Price (April 20) | – | Half of April 17 closing price |
Trading and Settlement Adjustments
According to a Pakistan Stock Exchange (PSX) notice, trading in BAFL shares will operate on a modified settlement cycle on T+0 basis from April 17, 2026 , for BC-1 activity due to the stock split impact. From April 20, 2026 , the first working day after the book closure, the normal T+1 settlement cycle will resume with shares reflecting an adjusted price structure.
The opening price on April 20, 2026, will be adjusted to half of the closing price recorded on April 17, 2026 , reflecting the revised share structure.
Key Dates
| Date | Event |
|---|---|
| April 17, 2026 | T+0 trading (BC-1 activity) |
| April 18, 2026 | Book Closure |
| April 20, 2026 | Normal T+1 settlement resumes; adjusted price (1/2 of April 17 closing) |
Entitlement Contracts
The trading and settlement calendar for entitlement contracts including APRB, MAYB, and JUN has also been defined, with contract openings, closings, and settlement dates spread across April and May 2026. Corresponding ex-entitlement contracts such as APRC, MAYC, and JUNB will follow separate timelines, with trades in these contracts not qualifying for entitlement benefits and being executed on an ex-benefit basis.
CSF Eligible Security Status
The exchange framework also notes that BAFL, being a CSF eligible security , will transition into non-standardized contract categories including BAFL-CAPRN2, BAFL-CMAYN2, and BAFL-CJUNN1 with effect from April 20, 2026. Despite these adjustments, there will be no change in the broader trading and settlement structure beyond the revised contract specifications.
About Bank Alfalah
Bank Alfalah is one of Pakistan’s largest private sector banks, with a nationwide network of branches offering a comprehensive range of banking products and services to retail, corporate, and institutional clients.
About Stock Splits
A stock split increases the number of shares outstanding while proportionally reducing the face value per share. The company’s total market capitalization and paid-up capital remain unchanged. Stock splits are typically undertaken to improve liquidity and make shares more affordable for retail investors.
