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 designated to determine the Class “A” and Class “B” shareholders of the company, as per a stock filing dated May 16, 2024. The Securities and Exchange Commission of Pakistan (SECP) approved a Scheme of Arrangement between PIA and PIA Holding Company Limited on May 3, 2024, facilitating PIA’s delisting from PSX on May 25, 2024.
To determine eligibility for the issue/allotment of PIAHCL shares, PIACL will not consider any transfers received by its Share Registrar after the Final Book Closure Date.
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The last trading day for PIA shares will be Friday, May 24, 2024. The PSX has already 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.
“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 added. Additionally, it was noted in a recent review meeting concerning the Ministry of Privatization and the Privatization Commission that the pre-qualification process for the privatization of Pakistan International Airlines (PIA) is expected to be completed by the end of May.
