PSX admits dividend adjustment error in Bank Alfalah pricing, keeps all trades intact

The Pakistan Stock Exchange (PSX) on Tuesday said an error in the ex-dividend adjustment process for Bank Alfalah Limited led to incorrect pricing metrics, including the ex-price and circuit breaker range, though it maintained that all trades executed during the session remain valid.

The exchange said the mistake occurred when Rs3.00 was deducted from the previous day’s closing price of Rs59.95 instead of the correct dividend entitlement of Rs1.50.

This resulted in an incorrect ex-dividend price of Rs56.95, compared with the correct figure of Rs58.45.

Consequently, the circuit breaker range was also misstated at [51.26 – 62.65], instead of the accurate range of [52.61 – 64.30].

PSX clarified that despite the discrepancy, active trading continued throughout the session and prices were formed through genuine arm’s length transactions, remaining within the correct underlying range, indicating fair price discovery.

The exchange said it would not intervene in or disrupt the day’s market activity, and that all executed trades along with the closing price would be treated as final and continue to be referenced accordingly.

However, to ensure accuracy in official records, PSX adjusted the previous day’s closing price of Bank Alfalah Limited from Rs56.95 to Rs58.45, reflecting the correct dividend deduction of Rs1.50.