Crescent Star Insurance Limited Acquires Significant Stake in S.G. Power Limited

Karachi: Crescent Star Insurance Limited has officially announced a substantial increase in its shareholding of S.G. Power Limited, acquiring additional voting shares as of January 10, 2025. This strategic move has increased Crescent Star Insurance Limited's total shareholding in S.G. Power Limited to 3.41 million shares, representing 19.13% of the total issued voting shares of the company.

Prior to this acquisition, Crescent Star Insurance Limited held 2.53 million shares in S.G. Power Limited. The transaction involved purchasing the additional shares at the rate of RS.6.00 per share, marking a significant step in the company's investment strategy in the power sector.

According to information available from the Pakistan Stock Exchange (PSX), this acquisition not only strengthens Crescent Star Insurance Limited's position in the designated market category but also demonstrates its strategic focus on expanding its investment portfolio within the energy sector. This move is expected to enhance the company's influence and decision-making power in S.G. Power Limited, potentially impacting future business directions and collaborations.

The disclosure, made in accordance with Section 110 of the Securities Act, 2015, highlights Crescent Star Insurance Limited's commitment to transparency and regulatory compliance, ensuring investors and stakeholders are well-informed about significant changes in its investment holdings.