LAHORE: In response to the speculation in the media, Arif Habib Corporation Limited (AHCL) has officially confirmed its Expression of Interest (EOI) and Statement of Qualification (SOQ) submission for acquiring a majority stake in Pakistan International Airlines (PIA).
The confirmation was intended to clarify the information circulating about the interest shown by AHCL and Gerry’s in PIA.
The submission to the Privatization Commission does not constitute price-sensitive information, nor does it confirm AHCL’s status as a ‘Bidder’ in the privatization process. This status will be determined at a more advanced stage, according to the company’s recent correspondence with the Pakistan Stock Exchange and the Securities & Exchange Commission of Pakistan.
According to AHCL, once the interested parties submit their SOQs by the extended deadline of May 17, 2024, the Privatization Commission will provide detailed instructions to all pre-qualified participants. These instructions will guide the bidders on whether to commence the due diligence process or not, based on their qualification status.
Arif Habib Corporation, a prominent investment holding company, stated its commitment to maintaining transparency and adhering to all regulatory requirements for timely disclosures of all material and price-sensitive information.
The company holds its reputation in high esteem and seeks to clarify any misconceptions through timely and transparent communication.
