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The Privatisation Commission and Lead Manager for the PIAC shares Public
Offering will hold first Road show at Pearl Continental Hotel, Lahore at 4
p.m. on Monday May 31, 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 The Road Shows will be attended 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 first Road Show 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 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.
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.