The Securities and Exchange Commission of Pakistan (SECP) has approved the restructuring of Pakistan International Airlines Corporation Limited (PIACL).
According to the Privatisation Commission, the legal separation of PIACL was a complex phase of the restructuring process, which has now been successfully completed.
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, as per an official statement.
This development marks a significant milestone 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 in accordance with relevant rules and regulations.
