KARACHI: United Bank Limited (UBL) has announced a 2-for-1 stock split, with the Board of Directors recommending the subdivision of the bank’s shares from a face value of Rs10 to Rs5 per share. This move will double the number of outstanding shares, with shareholders receiving two shares for every one currently held.

The proposed stock split will be subject to shareholder approval at an extraordinary general meeting (EOGM) scheduled for Thursday, May 15, 2025, in Islamabad.

The bank will also seek approval for amendments to the relevant clauses of its memorandum and articles of association to reflect the revised share structure, in accordance with Section 85(1)(c) of the Companies Act, 2017.

To facilitate this process, UBL’s share transfer books will remain closed from May 8 to May 15. Transfers received by the close of business on Wednesday, May 07, 2025, at the office of UBL’s share registrar, THK Associates (Pvt) Limited, Karachi, will be eligible for participation and voting at the EOGM.

The stock split is intended to enhance share liquidity and make UBL’s stock more accessible to a broader investor base, following its record-breaking Q1CY25 earnings and dividend announcement.