SECP clears LSE SPAC-II IPO for listing at PSX
- Offers 2 million shares to retail investors at Rs10
The SECP has approved the IPO of LSE SPAC-II, the second SPAC on the Pakistan Stock Exchange, signaling continued growth and confidence in the nation's primary capital market.
- LSE SPAC-II's share allocation and offering price.
- The role and benefits of Special Purpose Acquisition Companies (SPACs).
- SECP's efforts to boost capital market confidence and accessibility.
The Securities and Exchange Commission of Pakistan (SECP) has approved the Initial Public Offering (IPO) of LSE SPAC-II, the second Special Purpose Acquisition Company (SPAC) to be listed on the Pakistan Stock Exchange (PSX).
The approval marks the 14th IPO approved during FY 2025-26, underscoring continued growth in Pakistan’s primary capital market and increasing corporate confidence in equity financing, as per a statement.
LSE SPAC-II will offer 20 million ordinary shares, representing 95.23 percent of its post-issue paid-up capital.
Of these, 18 million shares have been allocated to Pre-IPO investors, while the remaining 2 million shares will be offered to retail investors at a price of Rs. 10 per share, added the statement.
SPACs are established to raise capital from investors for the purpose of identifying and acquiring existing operating businesses within a specified timeframe.
Their introduction in Pakistan reflects ongoing efforts to diversify capital market products, facilitate innovative financing structures, and broaden investment opportunities.
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“The growing number of IPOs reflects increasing confidence in Pakistan’s capital markets. New listings help businesses raise long-term capital and create more investment opportunities.
SECP is committed to making investing simple and accessible so that more Pakistanis can participate in wealth creation and economic growth,” SECP Chairman Dr Kabir Ahmed Sidhu said.