Karachi: Crescent Star Insurance Limited (CSIL) has announced the successful full subscription of its right issue by a substantial shareholder, amounting to PKR 12,788,673. The announcement, dated January 23, 2026, highlights that this amount represents the commitment for 4,262,891 right shares at an exercise price of PKR 3 per share, accounting for 10.42% of the total right issue.

According to the company, the substantial shareholder, Weavers Pakistan (Private) Limited, has fully subscribed to the right shares, as permitted under the Companies (Further Issue of Shares) Regulations, 2020. The subscription was confirmed through an auditor’s certificate issued by M/s Naveed Zafar Ashfaq Jaffery & Co., Chartered Accountants.

According to information available from the Pakistan Stock Exchange (PSX), the subscription money was traced and received in the bank account of Crescent Star Insurance Limited maintained with Habib Bank Limited. The auditors have verified this receipt as per the guidelines issued by the Institute of Chartered Accountants of Pakistan.

The management of CSIL bears the responsibility for ensuring compliance with the relevant laws and regulations, maintaining accurate accounts, and acquiring necessary approvals from competent authorities. The auditor’s role was to certify the receipt of the subscription money in alignment with the prescribed guidelines.

This development marks a significant move for Crescent Star Insurance Limited, as it reflects the confidence of its substantial shareholders in the company’s financial strategy and governance. The TRE Certificate Holders of the Exchange have been informed accordingly.