The Securities and Exchange Commission of Pakistan approved on Wednesday the initial public offerings (IPOs) of Sitara Petroleum Service Limited and LSE SPAC-I.
Both will be listed at the Pakistan Stock Exchange, as per a press release.
Now, the total number of IPOs in FY 2025–26 has reached 11.
“It also signals that more companies are turning to the capital market to raise funds for growth and expansion.
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This trend is creating new opportunities for investors,” as per the press release.
The SECP has allowed the issuance and publication of prospectuses for both IPOs. This will pave the way for their public launch. The SECP has advised investors to carefully review the prospectuses before making any investment decisions. It has reaffirmed its commitment to a transparent and investor-friendly regulatory environment.
Sitara Petroleum Service Limited is engaged in fuel trading, retail, and carriage services. It operates as a dealer of gas and oil in Pakistan.
The company will offer 168 million ordinary shares through the book-building method. The offer represents 16.66% of its post IPO paid up capital. Of the total shares, 75% will be allocated to institutional investors and high-net-worth individuals. The remaining 25% will be offered to retail investors.
READ MORE: SECP approves new book-building mechanism for IPOs
LSE SPAC-I is Pakistan’s first Special Purpose Acquisition Company under the public offering regime. The company aims to raise funds for mergers or acquisitions within three years.
It plans to acquire a 19.04% stake in Ningbo Green Light Energy Limited. Its IPO consists of 5 million shares. These will be offered through the fixed price method.