Press Release
VIS reaffirms Entity Ratings of LSE Ventures Limited
Karachi, August 11, 2026: VIS Credit Rating Company Limited (‘VIS’) reaffirms entity ratings of ‘AA-/A1’ (Double A Minus/A One) to LSE Ventures Limited (‘LSEVL’ or the ‘Company’). Medium to long term rating of ‘AA-’ indicates high credit quality; Protection factors are strong. Risk is modest but may vary slightly from time to time because of economic conditions. Short-term rating of 'A1' indicates strong likelihood of timely repayment of short-term obligations with excellent liquidity factors. Outlook on the assigned ratings is ‘Stable’. Previous rating action was announced on July 07, 2025.
LSE Ventures Limited (‘LSEVL’ or the ‘Company’) was registered on July 18, 2022 under the Companies Act, 2017 as a public unlisted company limited by shares. In June 2023, the Company obtained the listing status under the symbol "LSEVL" at Pakistan Stock Exchange (PSX) as a result of demerger scheme approved on April 26, 2023 by the Honorable Lahore High Court (LHC), accomplished through a reverse merger with Data Textiles Limited. The Company’s principal line of business is to invest in shares, bonds, stocks, units of mutual funds or any other securities or its related instruments or otherwise in all types of real assets and in such manner as may from time to time be determined by the Company and to hold, or sale such real assets, shares, bonds, stocks, units of mutual funds or any other securities or its related instruments, subject to the compliance with applicable laws. The head office / registered office of the Company is located at 19, Khayaban-e-Aiwan-e-Iqbal, Lahore, Pakistan. LSEVL primarily manages the legacy equity investments made by the former Lahore Stock Exchange (LSE) during its operation as a stock exchange. These investments position LSEVL as a significant stakeholder in the domestic capital market, with major shareholdings in key capital market infrastructure entities, including the Pakistan Credit Rating Agency (PACRA), National Clearing Company of Pakistan Limited (NCCPL), Central Depository Company of Pakistan (CDC), and Pakistan Mercantile Exchange Limited (PMEX).
LSE Ventures' investment portfolio continues to underpin its strong financial risk profile through strategic holdings in well-established and financially sound institutions, including PACRA, CDC, NCCPL, and Pakistan GasPort Consortium Limited (PGPC). These investee companies benefit from resilient business models, sound credit fundamentals, and demonstrated capacity to generate consistent dividend streams, providing the Company with stable and predictable cash flows while preserving the quality of its asset base. The portfolio's concentration in key capital market infrastructure entities further enhances its defensive characteristics and supports earnings stability. The assigned ratings derive considerable support from the Company's conservative investment philosophy and its commitment to maintaining a high-quality investment portfolio. Management’s investment strategy to maintain at least 70% of the new portfolio in entities rated in the 'AA' category or above, while exposure to 'A+' rated investments will be capped at 30%, materially reduces investment risk. Going forward, the ratings remain contingent upon the Company's ability to preserve this disciplined investment strategy, maintain its portfolio within the high-grade credit spectrum, and continue generating sustainable dividend income from its core strategic investments.
For further information on this ratings announcement, please contact on 021-35311861-64 or email at info@vis.com.pk.
Applicable Rating Criteria: Corporates:
https://docs.vis.com.pk/docs/CorporateMethodology.pdf
VIS Issue/Issuer Rating Scale
https://docs.vis.com.pk/docs/VISRatingScales.pdf