July 02, 2026 (MLN): PIA Holding Company Limited (PSX:PIAHCLA) has completed the first tranche of the privatization transaction for Pakistan International Airlines Corporation Limited (PIACL), with PIA Equity Limited.

The special purpose vehicle of the successful bidder consortium, now holds 66.67% of PIACL's issued and paid-up share capital, while PIAHCLA retains the remaining 33.33%.

The company stated that the First Completion under the Share Purchase and Subscription Agreement (SPSA), executed on 29 January 2026, took place on 29 June 2026, further to its earlier disclosure dated 24 December 2025 regarding the privatization of PIACL.

Pursuant to the First Completion, the share transfer and equity subscription contemplated under the SPSA have been implemented, with the agreed first tranche of the subscription amount injected into PIACL as fresh equity capital against the issuance of new shares in accordance with the agreement.

The aforementioned was disseminated through a notification to Exchange.