SECP Clears Two More PSX Listings As Total IPOs Reach 11 in Current Fiscal Year

The Securities and Exchange Commission of Pakistan has approved two new initial public offerings, including Sitara Petroleum Service Limited and LSE SPAC I, as the number of IPOs in FY 2025-26 rises to 11.

Both companies are set to list on the Pakistan Stock Exchange, signaling continued activity in the capital market despite regional tensions and a challenging geopolitical environment.

Sitara Petroleum Service Limited, which operates in fuel trading, retail, and carriage services as a dealer of Gas and Oil Pakistan, plans to offer 168 million ordinary shares through the book-building IPO method. The offering represents 16.66 percent of the company’s post IPO paid up capital.

Out of the total offering, 75 percent of the shares will be allocated to institutional investors and high-net-worth individuals, while the remaining 25 percent will be available to retail investors.

LSE SPAC I marks Pakistan’s first Special Purpose Acquisition Company under the public offering framework. The company aims to raise funds for mergers and acquisitions within a three-year period and plans to acquire a 19.04 percent stake in Ningbo Green Light Energy Limited.

The SPAC will offer 5 million shares through a fixed price method, introducing a new investment vehicle to the local capital market.

The regulator has advised investors to carefully review the prospectuses before making investment decisions and reiterated its commitment to maintaining a transparent and investor-friendly environment.