PIA board greenlights privatization, restructuring plan

MG News | March 26, 2024 at 11:55 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

March 26, 2024 (MLN): The Board of Directors of the Pakistan International Airlines Corp (PSX: PIAA) has approved the company’s restructuring and privatization plan.

The Scheme of Arrangement (SOA) for restructuring and privatization was approved during PIA's 83rd meeting held on March 25, 2024.

The Board will file the modalities with the Securities and Exchange Commission of Pakistan.

To note, PIA has witnessed a relentless rally past its record highs amid the government's efforts to restructure and privatize the loss-making airline.

PIA has seen a bout of volatility in recent sessions. The stock price is up 2.35x this month, and a staggering 7.56x in the current fiscal year.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	173,518.82 409.23M	-3.56% -6408.23
ALLSHR	105,463.40 895.64M	-3.48% -3807.29
KSE30	51,709.62 172.22M	-3.72% -1996.09
KMI30	244,367.91 157.85M	-3.61% -9164.01
KMIALLSHR	67,803.26 534.35M	-3.35% -2349.37
BKTi	49,017.52 55.15M	-3.88% -1979.98
OGTi	34,971.98 16.59M	-3.44% -1244.10

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,795.00	65,450.00 61,925.00	2445.00 3.92%
BRENT CRUDE	85.08	87.55 83.37	1.78 2.14%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-1.30 -1.21%
ROTTERDAM COAL MONTHLY	119.00	119.50 118.50	-0.50 -0.42%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	79.66	81.27 77.84	1.52 1.95%
SUGAR #11 WORLD	14.92	15.00 14.67	0.17 1.15%