LSECL SPAC play enters market arena with PSX approval

April 15, 2026 (MLN): LSE Capital Limited (PSX: LSECL) moves forward with the listing of its subsidiary LSE SPAC-I Limited on the Main Board of Pakistan Stock Exchange, following approval of its listing application and draft prospectus dated April 14, 2026.

The total issue size stands at Rs250 million, comprising 25m ordinary shares with a face value of Rs10 each. Out of the total offering, Rs200m (80%) has been allocated to pre-IPO investors through 20m shares.

The remaining Rs50m (20%), representing 5m shares, is allocated for the general public at a fixed price of Rs10 per share, the company's filing on PSX revealed today. 

The public portion carries full underwriting support from Muhammad Munir Khanani Securities Limited.

Proceeds from the offering are earmarked for the acquisition of equity in Ningbo Green Light Energy Limited, with the strategic objective of merging the SPAC with NGLE. Post-merger, shareholders of LSE SPAC-I are expected to receive shares of NGLE in exchange.

The transaction remains contingent on regulatory clearance for the prospectus, after which IPO dates will be finalized.

Dawood Equities Limited and LSE Capital Limited are acting as joint consultants to the issue

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