SECP Okays Two New Listings at PSX
Sitara Petroleum and LSE SPAC-I Limited have received approval to proceed with their initial public offerings (IPOs), highlighting continued investor interest in the capital market
KARACHI: Despite ongoing Middle East tensions, the Securities and Exchange Commission of Pakistan (SECP) has approved the listing of two new companies at the Pakistan Stock Exchange (PSX).
According to the SECP, Sitara Petroleum and LSE SPAC-I Limited have received approval to proceed with their initial public offerings (IPOs), highlighting continued investor interest in the capital market.
Sitara Petroleum will offer 168 million shares through the book-building process. Under the IPO structure, 75% of the shares will be allocated to institutional investors, while the remaining 25% will be offered to retail investors. The company’s listing is part of its expansion strategy in the fuel distribution and logistics sector.
Meanwhile, LSE SPAC-I Limited, Pakistan’s first Special Purpose Acquisition Company (SPAC), will issue 5 million shares through a fixed-price IPO mechanism. The company is expected to focus on acquisitions and investment projects over the next three years.
As part of its strategy, LSE SPAC-I plans to acquire a 19% stake in Ningbo Green Light Energy, marking its first potential investment target after listing on PSX.
With these approvals, the number of IPOs in the current fiscal year has reached 11, reflecting growing momentum in Pakistan’s equity market despite external economic and geopolitical uncertainties.
LSE SPAC-I is a group company linked to former Lahore Stock Exchange (LSE). It aims to acquire a stake in Ningbo Green Light Energy. LSE SPAC-I is the first of its kind in Pakistan and will be listed on PSX. The company currently has no operational business in Pakistan; however, after its Initial Public Offering (IPO), it will invest in Ningbo Green Light Energy.
In contrast, Sitara Petroleum is already an operational company engaged in petrol pump operations and oil transportation through tankers in Pakistan. Following its IPO, the company aims to expand its business operations further.
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