Arif Habib Corporation Limited (PSX: AHCL) notified the Pakistan Stock Exchange that it has submitted an expression of interest in Pakistan International Airlines (PIA) but hasn’t yet become a bidder.
AHCL has submitted an Expression of Interest (EOI) and Statement of Qualification (SOQ) to the Privatization Commission (PC). However, this action does not constitute price-sensitive information, nor does it grant AHCL the status of a ‘Bidder’, as per the stock filing. “The Bidders will be finalized and announced by the PC at a more advanced stage of the process,” it further clarified.
According to the Privatization Commission’s (PC) disclosed procedure, after interested parties submit their SOQS by the extended deadline (May 17, 2024), the PC will provide a detailed Instruction to Bidders document to pre-qualified participants. Pre-qualified bidders opting to proceed further will initiate the due diligence process before submitting bids.
AHCL functions as an investment holding company, primarily concentrating on strategic investments in subsidiary companies and associates spanning various sectors.
The filing concluded by stating that assessing investment proposals, including submitting EOIs, is a routine aspect of their business operations. However, recognizing the significance of the PSX, they deem it important to address the questions raised by it.
