PIAHCL shares to begin trading on PSX next week

KARACHI: Shares of PIA Holding Company Limited (PIAHCL) are set to be listed on the Pakistan Stock Exchange (PSX) starting Monday, May 27, 2024. This development was announced by PSX in a notice issued on Wednesday.

The listing of PIAHCL follows the Scheme of Arrangement sanctioned by the Securities & Exchange Commission of Pakistan (SECP) on May 3, 2024, between Pakistan International Airlines (PIA) and PIAHCL.

As part of this arrangement, PIA will be delisted from the PSX, effective from the final date of Book Closure, May 25, 2024. The last trading day for PIA shares will be Friday, May 24, 2024.

Trading in class “A” and class “B” shares of PIAHCL will begin on the PSX Main Board on May 27, 2024, with transactions to be settled on a T+2 basis. The first settlement date is scheduled for Wednesday, May 29, 2024. The market lot for class “A” and class “B” shares will be 1 share, priced at Rs10 and Rs5 respectively.

The opening prices for PIAHCLA and PIAHCLB shares will match the closing prices of PIAA and PIAB shares on their last trading day.

Both class “A” and class “B” shares of PIAHCL have been declared eligible securities by the Central Depository Company of Pakistan Limited (CDC), and all transactions will be settled through the National Clearing Company of Pakistan Limited (NCCPL).

The NCCPL has assigned the security symbols “PIAHCLA” and “PIAHCLB” to the class “A” and class “B” shares of PIAHCL, respectively.

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