Millat Tractors Proposes 2-for-1 Share Split

Millat Tractors Limited has announced a proposed share split, seeking shareholder approval to subdivide its shares, according to a notice issued to the Pakistan Stock Exchange.

The company said its board has recommended reducing the face value of shares from Rs. 10 to Rs. 5, effectively issuing two shares for every one share currently held. If approved, the move will increase the number of outstanding shares from around 199.5 million to approximately 399 million shares.

The company said the proposed split aims to improve liquidity and make the stock more accessible to a wider base of investors. To implement the change, Millat Tractors will also amend its memorandum of association to reflect the revised share structure.

The company has scheduled an Extraordinary General Meeting on June 5, 2026, at its registered office in Lahore, where shareholders will vote on the proposal.

The share transfer books will remain closed from May 30 to June 5, 2026, for the purpose of determining eligibility to attend and vote at the meeting.

Millat Tractors Limited, founded in 1964 and listed on the Pakistan Stock Exchange, is one of the country’s largest agricultural machinery manufacturers and the maker of Massey Ferguson tractors in Pakistan.