Karachi: Crescent Star Insurance Limited (CSIL) has announced its intention to acquire a substantial portion of S.G Power Limited, marking a significant development in the energy sector. The acquisition plan, unveiled on August 13, 2025, details CSIL's aim to purchase 38.05% of the issued and paid-up capital of the energy company through a transaction involving 6,785,236 ordinary shares.

The announcement follows CSIL's appointment of Intermarket Securities Limited as the Manager to the Offer, in compliance with the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. This public declaration will be published on August 15, 2025, in the Business Recorder and Roznama Dunya, fulfilling regulatory requirements.

According to information available from the Pakistan Stock Exchange (PSX), Crescent Star Insurance Limited, a well-established entity in the insurance market since 1957, is poised to expand its influence into the energy sector through this acquisition. The public offer aims to cover 16.36% of the target shares, with the remaining shares secured through agreements.

The acquisition remains contingent upon obtaining necessary approvals from the Securities and Exchange Commission of Pakistan (SECP) and other relevant authorities. The acquirers reserve the right to withdraw the offer, subject to the outcome of due diligence and independent valuation, should any legal or commercial obstacles arise.

Crescent Star Insurance Limited, headquartered on I.I. Chundrigar Road in Karachi, has built a reputation in general insurance across Pakistan. With a paid-up capital of PKR 1,077 million, the company is led by Chief Executive Naim Anwar and a board of directors comprising industry veterans.

This strategic move by CSIL underlines its ambition to diversify and strengthen its market position by venturing beyond traditional insurance services into the energy domain, aligning with broader economic and industrial trends.