The Securities and Exchange Commission of Pakistan has approved the initial public offering of LSE SPAC II, making it the second Special Purpose Acquisition Company to be listed on the Pakistan Stock Exchange and the 14th IPO cleared during FY26.

LSE SPAC II plans to offer 20 million ordinary shares, representing 95.23 per cent of its post-issue paid-up capital.

Of the total shares, 18 million 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.

SPACs are set up to raise funds from investors for the acquisition of existing operating businesses within a specified period.

Their introduction in Pakistan forms part of broader efforts to diversify capital market products, promote innovative financing structures, and expand investment opportunities.

The SECP said FY26 had been one of the busiest years for public offerings at the Pakistan Stock Exchange, reflecting growing confidence among companies in using the capital market to raise long-term funding and support business expansion.

SECP Chairman Dr Kabir Ahmed Sidhu said the rising number of IPOs showed increasing 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.