PIA Shares See Record Sharp Increase

The value of Class B shares of Pakistan International Airlines (PIA) Holding Company has surged dramatically, crossing Rs 22,000 per share, according to ARY News on Monday. This rise of over Rs 18,000 occurred within just one month.

The sudden jump has caught the attention of regulatory bodies. After a notice from the Pakistan Stock Exchange (PSX), PIA management responded that they are unaware of any reasons behind this sharp increase.

The Securities and Exchange Commission of Pakistan (SECP) and PSX have both asked PIA to explain the unusual rise, amid concerns of possible speculation or undisclosed corporate activities.

PIA Privatization Process Underway

Last April, the government officially launched the privatization process of PIA by inviting bids through an advertisement. This is the second Expression of Interest (EOI) issued by the current administration.

The government plans to sell between 51% and 100% of its shares in PIA. Interested buyers must submit applications by June 3, along with a non-refundable fee of Rs 1.4 million.

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