Solar Company Becomes First to Join PSX Through Merger
Pakistan’s first Special Purpose Acquisition Company (SPAC) transaction has been completed, with Ningbo Green Light Energy Limited joining the Pakistan … Read More The post Solar Company Becomes First to Join PSX Through Merger appeared first on ProPakistani .
Pakistan's inaugural Special Purpose Acquisition Company (SPAC) transaction concluded on September 30, 2026, as Ningbo Green Light Energy Limited merged with LSE SPAC-I Limited, subsequently joining the Pakistan Stock Exchange (PSX) Main Board. This marks the first occurrence of SPAC activity in Pakistan, opening a new avenue for businesses to access the public capital market.
Ningbo Green Light Energy specializes in renewable energy solutions, offering services such as solar engineering, procurement and construction, system integration, and operations and maintenance.
PSX Director Ahmed Chinoy hailed the transaction as a significant milestone for the country's capital market, suggesting it could set a precedent for subsequent SPAC deals. This move could enhance access to public financing and bolster renewable energy development, while simultaneously strengthening Pakistan-China economic ties.
Ningbo Green Light Energy CEO Muhammad Qasim noted that the listing would serve as a platform for the company's expansion, and Technology Director Cheng Quan emphasized the value of merging international expertise with local engineering capabilities.
LSE Capital CEO Aftab Ahmad Chaudhry affirmed that the finalized transaction validated the SPAC model in Pakistan, underlining its potential to provide businesses with an alternative pathway to public markets.
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