Karachi: Zuma Resources Limited has unveiled its plan to establish a Special Purpose Acquisition Company (SPAC) as part of an initiative aimed at enhancing shareholder value. The company's board of directors reached this decision during a meeting on October 30, 2026. The SPAC, tentatively named Zuma SPAC-I Limited, will possess an initial capital structure of PKR 350 million, contingent upon regulatory approvals and compliance with applicable requirements.

The proposed SPAC aims to secure a listing on the Pakistan Stock Exchange and will focus on mergers and acquisitions within sectors characterized by high growth potential, such as technology, artificial intelligence, and digital connectivity. According to information available from the Pakistan Stock Exchange (PSX), this strategic move by Zuma Resources seeks to capitalize on burgeoning opportunities in these dynamic industries.

As part of this venture, Zuma Resources intends to offer its current shareholders free shares in Zuma SPAC-I Limited. These shares will be allocated without any subscription payments by shareholders, who will receive them based on their proportional holdings in Zuma Resources Limited. The ratio for share allocation and the eligibility date for this offer will be disclosed at a later stage.

The free-share proposal remains subject to the successful establishment and listing of the SPAC, as well as compliance with sponsor-shareholding restrictions and transfer limitations. It also requires the completion of necessary corporate and regulatory procedures, along with the establishment of a legally viable distribution mechanism. This initiative is designed to provide shareholders with the opportunity for direct ownership in a separately listed investment entity, potentially boosting their overall equity value.