Clover Pakistan proposes 10-for-1 stock split; face value to drop to Rs1
“Clover Pakistan has proposed a 10:1 stock split, subject to shareholder approval at an EOGM.”
Key points
- Clover Pakistan has proposed a 10:1 stock split, subject to shareholder approval at an EOGM.
- The company says the split would increase the number of shares while keeping paid-up capital unchanged and improving accessibility for investors.
Clover Pakistan Limited (PSX: CLOV) has announced a proposed 10-for-1 stock split in a filing to the Pakistan Stock Exchange.
The company said its board approved and recommended the sub-division of shares, subject to shareholder approval at an upcoming Extraordinary General Meeting (EOGM).
Under the proposal, the face value of each share would be reduced from Rs. 10 to Rs. 1, with shareholders receiving 10 shares for every one share held on a determination date to be announced after the EOGM.
If approved, Clover’s paid-up capital would remain unchanged, but the number of outstanding shares would increase proportionately. The board also cleared changes to the company’s Memorandum of Association to reflect the proposed sub-division.
The company said the move is intended to make the stock more accessible to a wider range of investors while keeping the overall capital structure intact.
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