Arif Habib Corporation Limited (PSX: AHCL) has informed the Pakistan Stock Exchange that it has only filed an expression of interest in Pakistan International Airlines (PIA) and isn’t a bidder yet.
AHCL has indeed submitted an Expression of Interest (EOI) and Statement of Qualification (SOQ) to the Privatization Commission (PC). However, it is crucial to clarify that this submission does not constitute price-sensitive information, nor does it confer upon AHCL the status of a ‘Bidder’, the stock filing stated.
“The Bidders will be finalized and announced by the PC at a more advanced stage of the process,” it added.
As per the PC’s publicly disclosed privatization procedure, once interested parties submit their SOQS by the extended deadline i.e. 17th May 2024, the PC will furnish a comprehensive Instruction to Bidders document to pre-qualified participants.
Those pre-qualified bidders who opt to advance further in the process will then commence the due diligence process before submitting their bids or otherwise.
AHCL operates as an investment holding company, primarily focusing on strategic investments in subsidiary companies and associates across various sectors.
“Evaluating investment proposals, including submitting EOIs, is a routine aspect of our business operations. However, as we hold the PSX in high esteem, we feel it is important to clarify the questions raised by it,” the filing concluded.
