Karachi: In a notable financial maneuver, Crescent Star Insurance Limited has increased its investment in Tristar Power Limited by acquiring additional voting shares. The acquisition, executed on January 20, 2025, involved the purchase of shares at a rate of Rs. 6.45 per share, enhancing Crescent Star's shareholding in Tristar Power to 2,203,997 shares, equivalent to 14.69% of the company’s total issued voting shares. Previously, Crescent Star held 2,071,919 shares, reflecting a strategic move to solidify its influence within the energy sector.

According to information available from the Pakistan Stock Exchange (PSX), Crescent Star Insurance Limited, headquartered on the 2nd Floor of Nadir House, I.I. Chundrigar Road, Karachi, has been operational since its incorporation on May 8, 1957. The company operates under the jurisdiction of Karachi with an authorized and issued share capital of 115.00 million and 107.70 million, respectively. The acquisition aligns with Crescent Star’s broader market strategy to enhance its portfolio and strengthen its foothold in the designated market category of energy and insurance sectors.

The acquisition was led by Naim Anwar, who exercises control over Crescent Star Insurance Limited. Anwar is supported by a diverse board of directors comprising Rashid Malik, Rabia Omar Hassan, Huma Jawaid, Suhail Elahi, Naveeda Mahmud, Sheikh Waqar Ahmed, and Saba Azam. Each member brings valuable expertise, contributing to the company’s strategic decisions and growth trajectory.

This move by Crescent Star Insurance Limited signals its ambition to expand its presence in the energy sector, leveraging its financial resources to acquire significant stakes in key industry players like Tristar Power Limited. The acquisition not only enhances Crescent Star's portfolio but also reinforces its commitment to investing in sectors poised for growth and expansion.