LSE Capital, Topline Securities and Growth Securities have secured the financial advisory and initial public offering (IPO) mandate for Cordoba Financial Services Limited (CFSL), a majority owned company of Cordoba Logistics & Ventures Limited (PSX: CLVL), marking a proposed new listing that will bring additional shares of the financial services company to the market. LSE Capital, which is listed on the Pakistan Stock Exchange under the ticker PSX: LSECL, is working alongside Topline Securities and Growth Securities on the transaction. The development was disclosed through a material information notice issued to the Pakistan Stock Exchange on Monday, August 31, 2026, providing details of the proposed share offering and the structure planned for the listing process.
Under the proposed transaction, Cordoba Financial Services will offer 10% additional shares to the market as part of its listing process. The planned offering will be divided between institutional and general public participation through two separate channels. According to the information disclosed to the Pakistan Stock Exchange, 75% of the shares included in the offering will be allocated through the book building process, while the remaining 25% will be offered to the general public. The structure will therefore provide participation for investors through both the book building mechanism and the public offering portion of the proposed transaction.
The material information notice did not disclose the total size or monetary value of the proposed share offering. As a result, the financial details of the IPO, including the overall value of the shares that will be offered to investors, have not yet been made public. LSE Capital requested the Pakistan Stock Exchange to disseminate the information among market participants. Further details regarding the offering may be disclosed as the listing process progresses and the relevant regulatory and market requirements are completed.
Cordoba Financial Services is a Non Banking Finance Company licensed by the Securities and Exchange Commission of Pakistan. The company operates in the financial services sector and provides leasing and financing solutions designed for different categories of customers and assets. Its services include rental and financing packages covering vehicles, real estate, industrial machinery and medical equipment. The company provides these solutions based on the requirements of customers seeking financing arrangements for a range of personal, commercial and industrial assets.
The proposed listing comes through Cordoba Logistics & Ventures Limited, which holds a majority stake in Cordoba Financial Services. The planned offering of additional shares will allow a portion of the financial services company to be made available to market investors through the IPO process. With 75% of the offering planned through book building and 25% reserved for the general public, the transaction has been structured to include both market based price discovery and wider investor participation.
The appointment of LSE Capital, Topline Securities and Growth Securities places the three firms in an advisory role for the proposed IPO and listing of Cordoba Financial Services. The transaction will proceed through the applicable requirements for a public offering and listing on the Pakistan Stock Exchange. While the company has confirmed the 10% additional share offering and its proposed allocation between book building and the public offer, the notice does not provide a timeline for completion or disclose the expected proceeds from the transaction.
Cordoba Financial Services’ operations span several asset categories, giving the company exposure to financing requirements across vehicles, property, industrial equipment and medical equipment. Its leasing and financing products are structured around the specific requirements associated with these assets. As an NBFC regulated by the Securities and Exchange Commission of Pakistan, the company operates within the regulatory framework applicable to non banking financial companies in the country.
The proposed IPO will be subject to the necessary processes associated with a listing and public share offering. Market participants have been informed about the mandate and the planned structure through the material information notice submitted to the Pakistan Stock Exchange. Details concerning the offer size, valuation, pricing and other transaction terms were not included in the announcement. Investors and other market participants will therefore require further disclosures as the proposed listing moves forward.
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