LSE Capital Limited has submitted an application and draft prospectus to list its third Special Purpose Acquisition Company (SPAC) on the Pakistan Stock Exchange (PSX), seeking to raise Rs. 500 million for future acquisitions.
In a notice to the PSX, the company said the proposed LSE SPAC-III will raise Rs. 500 million, of which Rs. 400 million will be subscribed by pre-IPO investors, including seed funding from LSE Capital, while the remaining Rs. 100 million will be offered to the general public through the IPO.
According to the filing, the proceeds will be used to acquire one or more potential target companies in accordance with the Public Offering Regulations, 2017. The acquisition targets will be identified after the successful completion of the offering.
The latest filing follows the successful launch of SPAC-I and SPAC-II, making LSE Capital the leading sponsor of SPAC listings in Pakistan’s capital market.
A Special Purpose Acquisition Company (SPAC) is a publicly listed shell company that raises funds through an IPO with the sole objective of acquiring or merging with an operating business within a specified period. The structure enables private companies to access public markets through a merger rather than a traditional initial public offering.
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