PIA Shares to be Delisted From PSX This Week

Pakistan International Airlines Corporation Limited (PSX: PIAA) will 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 stock filing dated May 16, 2024, revealed.

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 essentially allowed PIA to get delisted from PSX on May 25, 2024.

PIACL shall not, for purposes of determining the eligibility to the issue/allotment of PIAHCL shares, be bound to consider any transfer received by its Share Registrar after the Final Book Closure Date.

The last day for trading PIA shares will be Friday, May 24, 2024. The main bourse has already informed all 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.

‘Shareholders are hereby in
formed that the shares of PIACL shall no longer be traded on the Pakistan Stock Exchange after the Final Book Closure Date,’ the filing added.

It bears mentioning that last week, it was informed at a review meeting of the affairs 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.

Source: Pro Pakistani