Arif Habib Corporation Limited (PSX: AHCL) has been pre-qualified to participate in the bidding process for Pakistan International Airlines (PIA), according to a filing revealed by the company on the Pakistan Stock Exchange (PSX) today.
AHCL’s announcement follows a press release by the Privatization Commission (PC) yesterday, which highlighted that five other companies or consortia have also been selected as pre-qualified bidders for the PIA privatization process.
As previously disclosed by AHCL, the pre-qualified bidders who decide to proceed will now embark on the due diligence process before making their final bids. AHCL’s continued participation in the bidding will depend on the due diligence outcomes and the subsequent guidance from its Board of Directors regarding the future course of action.
In the statement, AHCL reiterated its role as an investment holding company with a primary focus on strategic investments in subsidiary companies and associates across various sectors. Evaluating investment proposals, such as this, is a routine part of AHCL’s business operations.
