In a recent development, Arif Habib Corporation Limited (AHCL), a leading investment holding company, has expressed its interest in acquiring a majority stake in Pakistan International Airlines (PIA). This move comes amidst widespread media speculation and aims to provide clarity on the matter.
AHCL, along with Gerry’s, has submitted an Expression of Interest (EOI) and Statement of Qualification (SOQ) to the Privatization Commission. However, this submission does not classify AHCL as a ‘Bidder’ in the privatization process. The company’s bidder status will be determined at a later stage, as per the company’s recent communication with the Pakistan Stock Exchange and the Securities & Exchange Commission of Pakistan.
The Privatization Commission is set to provide detailed instructions to all pre-qualified participants once the SOQs are submitted by the extended deadline of May 17, 2024. These guidelines will assist the bidders in deciding whether to initiate the due diligence process, depending on their qualification status.
AHCL has reiterated its commitment to uphold transparency and comply with all regulatory requirements for the timely disclosure of all material and price-sensitive information. The company values its reputation and aims to dispel any misunderstandings through prompt and transparent communication.
, a leading investment holding company, has expressed its interest in acquiring a majority stake in Pakistan International Airlines (PIA). This move comes amidst widespread media speculation and aims to provide clarity on the matter.){kind=link}