Millat Tractors Limited has announced plans to subdivide its ordinary shares in a move aimed at improving share liquidity and making its stock more accessible to a broader base of investors. The proposal, approved by the company’s Board of Directors, will be presented to shareholders for approval at an upcoming Extraordinary General Meeting (EOGM).
According to the company’s disclosure, the Board has recommended reducing the face value of each ordinary share from Rs. 10 to Rs. 5, effectively implementing a 2-for-1 stock split. If approved, shareholders will receive two ordinary shares of Rs. 5 each for every one ordinary share of Rs. 10 they currently hold. The proposed change will also require an amendment to Clause V of the Memorandum of Association to reflect the revised share structure.
Millat Tractors stated that the objective of the share subdivision is to enhance shareholder value by increasing the number of tradable shares, improving market liquidity, and encouraging greater participation from retail investors. The company believes that a lower per-share price will make its stock more affordable while maintaining the overall value of shareholders’ investments.
Currently, the company has 199,515,948 ordinary shares with a face value of Rs. 10 each. Following the proposed subdivision, the total number of issued shares will increase to 399,031,896 ordinary shares with a face value of Rs. 5 each, without changing the company’s paid-up capital.
To seek shareholder approval, Millat Tractors has scheduled an Extraordinary General Meeting (EOGM) for June 5, 2026, at 12:00 PM at the company’s registered office located at 8.8 KM Sheikhupura Road, Lahore. The meeting will also be accessible through a video link to facilitate shareholder participation.
The company has also announced that its share transfer books will remain closed from May 30, 2026, to June 5, 2026 (both days inclusive). Share transfers received by the company’s share registrar, CDC Share Registrar Services Limited (CDCSRSL), by the close of business on May 29, 2026, will be considered eligible for participation and voting at the EOGM.
The proposed stock split reflects Millat Tractors’ strategy to improve market participation and strengthen shareholder engagement while maintaining the company’s capital structure. If approved by shareholders, the revised share structure is expected to increase trading activity and broaden the company’s investor base.
