Shares of PIA Holding Company Limited (PIAHCL) will start trading at Pakistan Stock Exchange at the same price as the final closing rate of Pakistan International Airlines Corp (PSX: PIAA), the airline informed the main bourse on Tuesday.
The opening price of PIAHCLA and PIAHCLB shall be the same as the closing price of PIAA and PIAB on the final book closure date, the stock filing stated.
PIAA will officially close its books at PSX on May 25, 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. This essentially allowed PIA to get delisted from PSX on May 25, 2024.
The last day for trading PIA shares will be Friday, May 24, 2024. The main bourse has already informed all shareholders that shares of PIA (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.
Source: Pro Pakistani