PIA Shares Will Be Delisted From PSX Soon

Pakistan International Airlines Corporation Limited (PSX: PIAA) will officially close its books at the Pakistan Stock Exchange (PSX) on May 25, 2024, as per a stock filing dated May 16, 2024. This date will determine the Class “A” and Class “B” shareholders of the company.

On May 3, 2024, the Securities and Exchange Commission of Pakistan (SECP) approved a Scheme of Arrangement between PIA and PIA Holding Company Limited, facilitating PIA’s delisting from PSX on May 25, 2024.

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For eligibility regarding the issue/allotment of PIAHCL shares, PIACL will not consider any transfer received by its Share Registrar after the Final Book Closure Date.

The last trading day for PIA shares will be Friday, May 24, 2024. The main bourse has already notified shareholders that PIA shares (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.

“Shareholders are hereby informed that the shares of PIACL shall no longer be traded on the Pakistan Stock Exchange after the Final Book Closure Date,” the filing stated.

Last week, it was announced in 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.