May 22, 2024 (MLN): Shares of PIA Holding Company Limited (PIAHCL) will be listed on the Pakistan Stock Exchange (PSX) with effect from Monday, May 27, 2024.
PSX shared the development in a notice on Wednesday.
To note, PIAHCL is being listed on the PSX pursuant to the Scheme of Arrangement between PIA and PIAHCL sanctioned by the Securities & Exchange Commission of Pakistan vide its order dated May 03, 2024.
PIA will stand delisted from the PSX with effect from the final date of Book Closure i.e. May 25, 2024, and the last trading day will be Friday, May 24, 2024.
Trading in class "A" and class "B" shares of PIAHCL will commence on the PSX Main Board from Monday, May 27, 2024 and will be settled on T+2 basis.
The first settlement date will be Wednesday, May 29, 2024.
The market lot of class "A" and class "B" shares of PIAHCL will be 1 share of Rs10 and Rs5 each, respectively.
Moreover, the opening price of PIAHCLA and PIAHCLB will be the same as the closing price of PIAA and PIAB on the last date of trading at PSX.
“Both class "A" and class "B" shares of the company have already been declared as an eligible security by the Central Depository Company of Pakistan Limited (CDC) and all the transactions shall be settled through the National Clearing Company of Pakistan Limited (NCCPL),” the notice further reads.
NCCPL has assigned "PIAHCLA" and "PIAHCLB" as security symbol to class "A" and class "B" shares of PIAHCL, respectively.
