|
|
|
|
|
The Privatisation Commission has planned a series of Road Shows / marketing
presentations to inform the investors of the opportunity to invest in shares
of the national flag carrier, Pakistan International Airlines Corporation. The
first of the road shows will be held in Lahore on May 31, 2004. It will be
followed by a Road Show in Islamabad on June 01, 2004 while the third and
final Road Show will be held in Karachi on June 04, 2004. The Road Shows will
be participated by Dr. Abdul Hafeez Shaikh Federal Minister for Privatisation
& Investment, PIAC Management, Members PC Board, representatives of Stock
Exchanges, Brokerage Houses, Chambers of Commerce and Industries and the
general public.
The Road Shows will be part of an extensive marketing campaign, which the
Privatisation Commission has decided to launch for the Offer for Sale of up
to 10% (115 million) shares of PIAC by the government. The offer price has
been fixed at Rs.20/- per share and applications can be made for 500 shares or
multiples thereof through the authorized Banks. The minimum amount of
investment would be Rs.10,000/- for buying 500 shares and preference would be
given to small investors as per the Government's policy to benefit the common
man.
Investors applying for shares for deposit in CDC accounts will not be required
to pay any transfer fee. However, investors applying for physical shares
through Bankers to offer will have to pay additional 15 Paisa per share
applied for. Applications forms will be available in the first week of June
2004 from authorized banks. Forms will also be available at the websites of
the Privatisation Commission, lead manager to the offer and PIAC from May 28,
2004 and in the newspapers of June 06, 2004.
Over the period FY1999-2003, PIAC has demonstrated remarkable financial
performance, registering significant growth in sales, profitability and cash
flows. Despite the global recession in the aviation industry, PIAC has managed
to be one of the few profitable airlines in the world.