LSE SPAC-II appoints auditor for due diligence on proposed acquisition target

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

The decision was taken at a board meeting held on July 21 under the requirements of the Public Offering Regulations, 2017.

LSE SPAC-II said the proposed investment would be placed before shareholders for approval if the due diligence report was satisfactory.

The transaction will remain subject to the regulatory framework governing Special Purpose Acquisition Companies.

Read This: LSE SPAC-II lists on PSX after IPO draws 22.27 times subscription

The company did not disclose the identity of the proposed target or the expected value of the investment.

LSE SPAC-II was listed on the PSX Main Board on July 13, 2026, after completing an initial public offering that was oversubscribed 22.27 times. The company received 8,707 applications for the two million shares offered through the IPO. 

Following the public offering, LSE SPAC-II transferred Rs180 million, equivalent to 90% of the IPO proceeds, to a designated escrow account.

LSE SPAC-II is a special purpose acquisition company established to raise funds through a public offering before identifying and completing a qualifying acquisition or merger.