LSE Capital plans Rs500mn IPO for third SPAC

After launching Pakistan’s first two special purpose acquisition companies, LSE Capital plans to list LSE SPAC-III on the Pakistan Stock Exchange (PSX), aiming to raise Rs500 million to fund future acquisitions. “After the successful IPOs of SPAC-I and SPAC-II, LSE Capital has also submitted the IPO application/draft prospectus for the PSX listing of LSE SPAC-III,” read the notice to the bourse. The new SPAC intends to raise Rs500 million, out of which Rs400 million, including the seed funding from LSE Capital, shall be subscribed by the pre-IPO investors, while the fund-raising from the general public portion shall be of an amount of Rs100 million.