Pakistan Stock Exchange (PSX) cancels share price of Pakistan International Airlines
The share price of Pakistan International Airlines (PIA) has been
cancelled by the Pakistan Stock Exchange in a significant move towards the airline's
privatization.
This step is part of the ongoing procedure to transfer the
national airline to private ownership by the summer.
Read More Government
plans to sell majority shares of Pakistan International Airlines (PIA)
At the end of April, the transfer of 96% of PIA’s shares to the
PIA Holding Company was approved. This reorganization facilitated the
segregation of long-term liabilities ($2.26 billion) and non-essential assets
($89.3 million) into a separate entity under the Islamabad government.
This separation ensures that only the core airline business
(valued at approximately $526 million) and its primary liabilities ($726
million) will be privatized.
Read More SECP
approves restructuring pan of Pakistan International Airlines (PIA)
Starting from May 27th, only the shares of PIA Holding Company
will be listed on the stock exchange, maintaining the same price as the PIA
shares as of May 25th. This adjustment aligns with the strategic goal of
streamlining PIA's assets for a smoother transition to private sector control.
Source: https://www.avionews.it