Lucky Cement Board clears participation in PIACL privatization bid

November 19, 2025 (MLN): Lucky Cement Limited’s Board of Directors has approved the company’s participation, as part of a consortium, in the ongoing privatization process of Pakistan International Airlines Corporation Limited (PIACL), the company disclosed to the Pakistan Stock Exchange (PSX) on Friday.

The approval was granted in a board meeting held on December 18, 2025, following the satisfactory completion of detailed due diligence by the consortium.

Subject to the finalization of transaction documents to the consortium’s satisfaction, the board has authorized Lucky Cement to proceed with the submission of a financial bid, including the payment of the requisite earnest money, and to complete all other formalities outlined in the bidding and transaction documents issued by the Privatization Commission.

The disclosure follows Lucky Cement’s earlier intimation dated July 09, 2025, regarding the pre-qualification of the consortium by the Privatization Commission to participate in the privatization of PIACL.

The company further noted that the privatization of PIACL is being carried out through a competitive bidding process in line with applicable laws and regulations, with the bidding scheduled for December 23, 2025.

The transaction remains contingent upon the consortium emerging as the successful bidder, fulfillment of all conditions specified in the transaction documents, and receipt of approvals from the relevant regulatory authorities.

Lucky Cement stated that it will continue to keep the Exchange and its shareholders informed of any further material developments related to the matter.

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