The Securities and Exchange Commission of Pakistan (SECP) has granted approval for two additional initial public offerings (IPOs), taking the total number of listings cleared during FY2025-26 to 11, highlighting sustained momentum in Pakistan’s equity market.
The newly approved companies — Sitara Petroleum Service Limited and LSE SPAC I — are preparing to list their shares on the Pakistan Stock Exchange (PSX), signaling continued capital market activity despite regional uncertainty and geopolitical pressures.
Sitara Petroleum Service Limited, engaged in fuel trading, retail operations, and transportation services as a dealer of Gas and Oil Pakistan, plans to issue 168 million ordinary shares through the book-building mechanism. The offering will represent 16.66 percent of the company’s post-IPO paid-up capital.
Under the proposed structure, 75 percent of the shares will be allocated to institutional investors and high-net-worth individuals, while retail investors will have access to the remaining 25 percent.
Meanwhile, LSE SPAC I will become Pakistan’s first Special Purpose Acquisition Company (SPAC) launched under the public offering framework. The company intends to raise capital to pursue mergers and acquisitions within a three-year investment window and plans to acquire a 19.04 percent stake in Ningbo Green Light Energy Limited.
The SPAC will issue 5 million shares through a fixed-price offering, introducing a new investment vehicle aimed at broadening financing options within the local capital market.
The regulator has urged potential investors to review prospectuses carefully before subscribing and reaffirmed its commitment to strengthening transparency and investor protection across the market.
