Public offering of PIA shares likely in April

ISLAMABAD: The Privatisation Commission is expected to offer shares of Pakistan International Airlines (PIA) for subscription in the first week of April, an official at the commission said Friday.

He said the federal minister for privatisation and investment had earlier announced the subscription of PIA shares within this month, but the procedural bottlenecks are set to drag this subscription to April.

He said so far the subscription price of PIA had not been fixed and added that the price can be fixed in the last week of this month.

The official said PIA shares would be offered at five to seven percent discount price, prevailing at the stock market at the time of the public subscription of the shares of national airline.

The PIA shares are already being traded at the stock market and the officials of the commission are optimistic that the process of its public subscription would complete within 40 to 50 days.

He also said that the initial public offer of Pakistan Petroleum Limited (PPL) shares would also get late and it may take place by the end of May or in early days of June. —Staff Report

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