Ningbo Green Light Energy Begins Trading On PSX Following LSE SPAC-I Merger
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✧ GENERATE BRIEFING
Ningbo Green Light Energy Limited (PSX: NGLEL) will officially commence trading on the Pakistan Stock Exchange (PSX) Main Board today, Thursday, October 29, 2026. The listing follows the successful execution of its reverse merger and amalgamation with LSE SPAC-I Limited, making NGLEL the surviving public entity.Key transaction terms, listing mechanics, and operational overview include:Opening Reference Price & Ticker: Trading opens under the symbol NGLEL at a reference opening price of Rs21.06 per share—reflecting LSE SPAC-I’s final closing price prior to trading suspension. Circuit breakers will apply as standard in the Ready Market.Share Swap Ratio: Pursuant to the Lahore High Court sanction order dated September 30, 2026, LSE SPAC-I shareholders received 1.5 shares of NGLEL for every 1 share held.Settlement Details: Shares carry a face value of Rs10 with a standard market lot size of one share. Transactions will be settled on a T+1 basis through NCCPL, with the inaugural settlement scheduled for Friday, October 30, 2026.
Ningbo Green Light Energy Limited (NGLEL) will begin trading on the Pakistan Stock Exchange (PSX) Main Board on Thursday, October 29, 2026, following the completion of its reverse merger with LSE SPAC-I Limited.
According to an official notice issued by the exchange, the company’s reference opening price has been set at Rs21.06 per share, corresponding to LSE SPAC-I’s closing price on its final trading session prior to suspension. The market lot size is set at one share, with a par value of Rs10 per share.
Court Sanction and Share Swap Execution
The listing follows a scheme of arrangement and amalgamation sanctioned by the Lahore High Court via an order issued on September 30, 2026.
| Transaction Parameter | Listing & Exchange Specification |
| Surviving Listed Entity | Ningbo Green Light Energy Limited (NGLEL) |
| PSX Trading Symbol | NGLEL |
| Reference Opening Price | Rs21.06 per share |
| Share Swap Ratio | 1.5 NGLEL shares for every 1 LSE SPAC-I share |
| Settlement Mechanism | T+1 (First Settlement: Friday, October 30, 2026) |
| Clearing & Depository | NCCPL (Clearing) & CDC (Eligible Security) |
Under the court-approved share-swap ratio, LSE SPAC-I shareholders have been allotted 1.5 shares of Ningbo Green Light Energy for every single share held in the special purpose acquisition company.
Settlement and Clearing Mechanics
The Central Depository Company of Pakistan Limited (CDC) has declared NGLEL shares as eligible securities for electronic deposit, while the National Clearing Company of Pakistan Limited (NCCPL) will handle clearing and settlement.
Trading in NGLEL shares will take place on the PSX Main Board with T+1 settlement rules applying. Normal price circuit breakers will be active relative to the Rs21.06 opening reference price.
Solar Energy Market Operations
Ningbo Green Light Energy expands the PSX’s renewable energy universe, operating primarily within Pakistan’s distributed solar energy and Engineering, Procurement, and Construction (EPC) sector.
The company integrates commercial, industrial, and residential solar systems, importing key tech components—including photovoltaic (PV) modules, solar inverters, and lithium battery storage solutions—from international manufacturers, while procuring mounting structures and civil works locally.
