LSE SPAC-II Limited has initiated the next phase of its acquisition strategy by appointing an independent financial advisory firm to conduct due diligence on a proposed target company, marking a significant step in its Special Purpose Acquisition Company (SPAC) journey.
In a material information notice submitted to the Pakistan Stock Exchange (PSX), the company announced that its Board of Directors, during a meeting held on July 21, 2026, approved the appointment of M/s Kreston Hyder Bhimji & Co., Chartered Accountants, to carry out the necessary due diligence for evaluating a potential investment opportunity.
The appointment has been made in accordance with the requirements of the Public Offering Regulations, 2017, which govern the operational framework for SPACs in Pakistan. The due diligence exercise is intended to assess the financial, legal, and operational aspects of the proposed target company before any acquisition decision is finalized.
According to the company, if the due diligence report is satisfactory, the proposed investment will be presented to the shareholders of LSE SPAC-II Limited for approval, as required under the applicable regulatory framework. Shareholder approval is a key milestone in the SPAC acquisition process and ensures transparency and investor participation in major corporate decisions.
LSE SPAC-II also reaffirmed its commitment to keeping the Pakistan Stock Exchange informed of any further material developments related to the proposed transaction in line with regulatory disclosure requirements.
The announcement does not disclose the identity of the target company at this stage, indicating that the evaluation process remains ongoing. Investors and market participants are expected to closely monitor future disclosures, as the successful completion of due diligence and shareholder approval could pave the way for one of the notable SPAC transactions in Pakistan’s capital market.
The latest development reflects LSE SPAC-II’s continued efforts to identify and evaluate promising investment opportunities while adhering to the country’s corporate governance and regulatory standards.
