Oct 28, 2026, 3:29 PM
LSE SPAC-I merger completed; Ningbo Green Light Energy listed on PSX
Scheme / ArrangementLSE Capital announced completion of the court-sanctioned merger of LSE SPAC-I Limited (SPAC1) into Ningbo Green Light Energy Limited (NGLE). SPAC1 was delisted effective October 29, 2026, and NGLE was admitted to trading on the same date. SPAC1 shareholders received 1.50 NGLE shares per SPAC1 share. NGLE is the surviving operating company, with its profile describing solar-energy solutions, EPC and operations and maintenance activities.
Key Findings
- The scheme of arrangement was sanctioned by the Lahore High Court and has been implemented.
- SPAC1 was delisted effective October 29, 2026; NGLE listing and trading on the PSX Main Board commenced October 29, 2026.
- The swap ratio is 1.50 NGLE shares for each SPAC1 share; fractional shares are not issued.
- NGLE trading is on a T+1 settlement basis, with the first settlement date October 30, 2026.
- NGLE states that completed solar installations exceeded 300 MW as of April 2026; the company profile also presents financial results for the years ended June 30, 2026, 2025 and 2024.
Disclosure Details
Entities Involved
LSE SPAC-I Limited (SPAC1), Ningbo Green Light Energy Limited (NGLE), LSE Capital Limited
Approvals Required
Lahore High Court sanction
Impact
SPAC1 was merged into NGLE under the scheme of arrangement; NGLE is the surviving listed company and SPAC1 shareholders received 1.50 NGLE shares for each SPAC1 share.
Risks
Disclosure
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Highlights summarize the key points from the company's official PSX filing. View the original filing for the complete details before making financial decisions.