LSE SPAC-II Begins Due Diligence For Acquisition

The Board of Directors of LSE SPAC-II Limited has appointed M/s Kreston Hyder Bhimji & Co., Chartered Accountants, to carry out due diligence on a prospective acquisition target.

The appointment was approved during a board meeting held on July 21 in accordance with the Public Offering Regulations, 2017.

LSE SPAC-II stated that, if the due diligence findings are satisfactory, the proposed investment will be presented to shareholders for their approval.

The company added that the transaction will proceed in line with the regulatory requirements applicable to Special Purpose Acquisition Companies (SPACs).

Read This: LSE SPAC-II debuts on PSX after IPO receives 22.27 times subscription.

The company did not reveal the identity of the proposed target business or disclose the anticipated value of the investment.

LSE SPAC-II was listed on the Pakistan Stock Exchange (PSX) Main Board on July 13, 2026, after successfully completing an initial public offering (IPO) that was oversubscribed by 22.27 times. A total of 8,707 applications were received for the two million shares offered through the IPO.

Following the successful offering, the company transferred Rs180 million, representing 90% of the IPO proceeds, into a designated escrow account.

LSE SPAC-II is a Special Purpose Acquisition Company established to raise capital through an IPO before identifying and completing a qualifying acquisition or business merger.