The Securities and Exchange Commission of Pakistan (SECP) has greenlighted the restructuring of Pakistan International Airlines Corporation Limited (PIACL).
The Privatisation Commission disclosed that the legal separation of Pakistan International Airlines Corporation Limited (PIACL) represented a highly intricate phase of the restructuring process, which has now been successfully concluded.
The SECP's approval includes the transfer of non-core assets and liabilities of PIACL to PIA Holding Company Limited, pending the endorsement of the scheme of arrangement on May 3, 2024, according to an official statement.
The implementation of this order signifies a key moment in the collaborative efforts of the Privatization Commission (PC), Finance Division, Ministry of Aviation, and Pakistan International Airlines.
In a directive, the SECP has instructed the Pakistan Stock Exchange (PSX), Central Depository Company (CDC), and National Clearing Company of Pakistan Limited (NCCPL) to ensure the listing of PIA Holding Company Limited by relevant rules and regulations.
