Pakistan International Airlines Corporation Limited will officially close its books at the Pakistan Stock Exchange (PSX) on May 25 (Saturday), 2024, ultimately desilting its shares from the bourse, reported 24NewsHD TV channel on Thursday.

The May 25 date has been set to determine present value of the Class “A” and Class “B” shares of the company, said a letter sent to the stock exchange by the PIACL Chief Executive Air Vice Marshal Amir Hayat.

The letter has also contained the price of Class “A” and Class “B” shares of the new PIA Holding Company.

The value of PIA shares on last day of its trading which is May 24 (Friday) will be price of the PIA Holding Company, said the letter.

The National Clearing Company has also issued a schedule for the last trading and settlement of the shares of the present PIA.

The Securities and Exchange Commission of Pakistan (SECP) had 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 had already informed all shareholders that shares of PIA (both PIAA and PIAB) will be available for trading in the regular market.

 

Reporter Khurshid Rahmani