LSE SPAC-I appoints four directors to Ningbo Green Light Energy board after stake acquisition

LSE SPAC-I Limited has appointed four directors to the seven-member board of Ningbo Green Light Energy Limited (NGLE) after acquiring a 19.04% equity stake in the company, according to notices submitted to the Pakistan Stock Exchange on Thursday.

The company said the appointments were made in accordance with Regulation 12(l) of the Public Offering Regulations, 2017, governing Special Purpose Acquisition Companies (SPACs).

The disclosure stated that the appointments were carried out under a Management and Governance Agreement signed between LSE SPAC-I Limited and NGLE on February 12, 2026.

Earlier this week, the company informed PSX that payment for acquisition of the 19.04% stake in NGLE was completed on May 11, 2026, following conclusion of its initial public offering.

The investment had already been disclosed in the prospectus issued for the IPO.

Ningbo Green Light Energy Limited operates in Pakistan as a solar energy solutions provider and engineering, procurement and construction company. Ningbo Green Light Energy Group Company Limited partly owns the company.

LSE SPAC-I Limited recently became Pakistan’s first Special Purpose Acquisition Company to be listed on the Pakistan Stock Exchange, with trading in its shares commencing on May 11, 2026.

The SPAC structure allows companies to raise capital through public listings for the purpose of future mergers or acquisitions, with LSE SPAC-I aiming to complete such transactions within three years.