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After holding first Road Show at Lahore today the Privatisation Commission
and Lead Manager KASB Securities for the PIAC shares Public Offering will hold
second Road show at Marriott Hotel, Islamabad at 4 p.m. on Tuesday June 01,
2004 as a part of the planned 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. Dr. Abdul Hafeez
Shaikh Federal Minister for Privatisation & Investment will address the event
while PIAC Management, Members PC Board, representatives of Stock Exchanges,
Brokerage Houses, Chambers of Commerce and Industries and the general public
will be present on this occasion. The third and final Road Show will be held
in Karachi on June 04, 2004.
The Road Shows is a 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 of benefiting the
common man. The subscription will open from June 7,2004 to June 9, 2004.
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 31,
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.