Lahore: The Board of Directors of LSE SPAC-II Limited has presented its quarterly financial report for the period ending September 30, 2026, showcasing a series of strategic advancements. The report, dated October 30, 2026, highlights the company's successful Initial Public Offering (IPO) and subsequent investment in M.P. Industries Limited.
LSE SPAC-II Limited, a Special Purpose Acquisition Company, completed its IPO by issuing 20 million ordinary shares at PKR 10 per share, amassing PKR 200 million. Pre-IPO shareholders retained 18 million of these shares, while 2 million shares were offered to the public. The IPO, conducted on July 2 and 3, 2026, was met with significant investor interest, receiving 8,707 applications for 46,546,000 shares, resulting in an oversubscription rate of approximately 22.27 times. The company's shares were subsequently listed on the Pakistan Stock Exchange Limited (PSX) on July 13, 2026.
According to information available from the Pakistan Stock Exchange (PSX), LSE SPAC-II Limited identified M.P. Industries Limited as its target company during the quarter under review. The investment was approved by shareholders through a Special Resolution passed at the Annual General Meeting on September 19, 2026. LSE SPAC-II Limited's participation in M.P. Industries' right issue aims to bolster the latter's business operations and working capital, aligning with LSE SPAC-II Limited's investment goals.
The company's financial performance for the quarter is documented in the unaudited condensed interim financial statements. The Board of Directors confirms that these statements accurately reflect the company's financial standing and performance for the period.
LSE SPAC-II Limited's dedication to corporate governance and compliance with the Companies Act, 2017, and the Listed Companies (Code of Corporate Governance) Regulations, 2019, remains a priority. The Board continues to ensure robust internal control systems and adherence to regulatory requirements, safeguarding shareholder and stakeholder interests.