ISLAMABAD/LAHORE: The Secu­rities and Exchange Commission of Pakistan has approved two more initial public offerings (IPOs) — Sitara Petro­leum Service Ltd (SPSL) and LSE SPAC-I Ltd — on the Pakistan Stock Exchange (PSX).

With these approvals, the total number of IPOs in FY26 has reached 11.

SPSL announced plans to raise up to Rs4.8 billion to finance expansion in its fuel retail network, logistics operations and storage infrastructure, according to its IPO prospectus. The company is offering a total of 279.9 million ordinary shares, representing 16.66pc of its post-IPO paid-up capital. Of these, 168m shares are being offered to the public, while 111.9m shares have already been placed through a pre-IPO transaction. The book-building process is scheduled for May 4-5, followed by a public subscription on May 11-12.

LSE SPAC-I aims to raise funds for mergers or acquisitions within three years. It plans to acquire a 19.04pc stake in Ningbo Green Light Energy Ltd. Its IPO consists of 5m shares. These will be offered through the fixed price method.

Published in Dawn, April 23rd, 2026