The Securities and Exchange Commission of Pakistan (SECP) has approved the initial public offering (IPO) of LSE SPAC II, making it the second Special Purpose Acquisition Company (SPAC) set to be listed on the Pakistan Stock Exchange (PSX).
The approval also marks the 14th IPO cleared during fiscal year 2025-26, highlighting growing activity in Pakistan’s capital markets.
LSE SPAC II plans to offer 20 million ordinary shares, representing 95.23 percent of its post-issue paid-up capital. Out of the total offering, 18 million shares have been allocated to pre-IPO investors, while the remaining 2 million shares will be available to retail investors at a price of Rs. 10 per share.
SPACs are investment vehicles created to raise capital from investors for the purpose of acquiring existing operating businesses within a specified timeframe. They have emerged globally as an alternative route for companies seeking access to capital markets.
The introduction of SPACs in Pakistan is part of broader efforts to diversify investment products, encourage innovative financing structures, and expand opportunities for investors.
The SECP noted that FY26 has been one of the most active years for public offerings on the Pakistan Stock Exchange, reflecting increased confidence among businesses in raising long-term funds through the capital market.
SECP Chairman Dr. Kabir Ahmed Sidhu said the growing number of IPOs demonstrates rising confidence in Pakistan’s capital markets. He added that new listings help companies secure long-term financing while creating additional investment opportunities for the public.
The regulator believes that continued market activity and new financial instruments will support the development of a deeper and more diversified capital market ecosystem in Pakistan.
