The Securities and Exchange Commission of Pakistan (SECP) has approved the initial public offering (IPO) of LSE SPAC II, marking the second Special Purpose Acquisition Company (SPAC) to be listed on the Pakistan Stock Exchange and the 14th IPO approval during the current fiscal year 2025–26.
According to official details, LSE SPAC II plans to issue 20 million ordinary shares, which represent 95.23 percent of its post-issue paid-up capital. Out of the total shares, 18 million have already been allocated to pre-IPO investors, while the remaining 2 million shares will be offered to retail investors at a price of Rs10 per share.
SPACs are investment vehicles created to raise capital through public markets for the purpose of acquiring existing operating companies within a defined timeframe. Their approval reflects the continued expansion of innovative financial instruments in Pakistan’s capital market.
Officials noted that the introduction of SPAC listings is part of broader efforts to diversify investment products, strengthen market depth, and provide new fundraising avenues for businesses.
The SECP stated that FY2025–26 has emerged as one of the most active years for public offerings on the Pakistan Stock Exchange, indicating growing confidence among companies in utilizing capital markets for long-term financing and expansion.
SECP Chairman Dr. Kabir Ahmed Sidhu said the rising number of IPO approvals highlights increasing investor and corporate confidence in Pakistan’s financial system. He added that new listings not only help companies raise capital but also expand investment opportunities for the public.
Market observers believe the continued approval of IPOs and SPAC structures signals a gradual strengthening of Pakistan’s equity market ecosystem and a shift toward more diversified financial instruments.
