The Pakistan International Airlines Corporation Limited (PIAA) is preparing to officially close its books at the Pakistan Stock Exchange (PSX) on May 25, 2024. This date has been set to determine the Class “A” and Class “B” shareholders of the company.
A recent stock filing dated May 16, 2024, revealed that the Securities and Exchange Commission of Pakistan (SECP) approved a Scheme of Arrangement between PIA and PIA Holding Company Limited on May 3, 2024. This approval paved the way for PIA to be delisted from the PSX on May 25, 2024.
In light of this, PIA will no longer consider any transfers received by its Share Registrar after the Final Book Closure Date for the purpose of determining eligibility for the issue or allotment of PIA Holding Company Limited shares.
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The last day for trading PIA shares will be Friday, May 24, 2024. The PSX has informed shareholders that shares of PIA (both PIAA and PIAB) will be available for trading in the Regular Market on a T+0/Spot settlement basis during the final two trading days.
Following the Final Book Closure Date, shares of PIACL will cease to be traded on the Pakistan Stock Exchange. In a related development, it was revealed during a review meeting of the Ministry of Privatization and the Privatization Commission that the pre-qualification process for the privatization of Pakistan International Airlines (PIA) will be completed by the end of May.
