Karachi, Pakistan – Shares of PIA Holding Company Limited (PIAHCL) will commence trading on the Pakistan Stock Exchange (PSX) at the same price as the final closing rate of Pakistan International Airlines Corp (PSX: PIAA), the airline announced on Tuesday.
According to the stock filing, the opening prices of PIAHCLA and PIAHCLB will match the closing prices of PIAA and PIAB on the final book closure date. PIAA will officially close its books on the PSX on May 25, 2024.
This transition follows the approval of a Scheme of Arrangement between PIA and PIA Holding Company Limited by the Securities and Exchange Commission of Pakistan (SECP) on May 3, 2024. The approval facilitates the delisting of PIA from the PSX, effective May 25, 2024.
The last trading day for PIA shares will be Friday, May 24, 2024. The PSX has notified all 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.
This strategic move is part of PIA’s ongoing efforts to restructure and streamline its operations, aiming to enhance efficiency and financial stability.
