Karachi: Crescent Star Insurance Limited has issued a public announcement of its intention to acquire up to 38.05% of the shares in S.G Power Limited, according to a statement released on August 18, 2025. The announcement, which was managed by Intermarket Securities Limited, outlines the acquisition plan involving approximately 6.79 million ordinary shares of S.G Power Limited.

The proposed acquisition is scheduled to be formalized with a public announcement published in both the Business Recorder and Roznama Dunya newspapers on August 15, 2025, in compliance with local regulatory requirements. The statement highlights that the acquisition will proceed once necessary approvals are obtained from the Securities and Exchange Commission of Pakistan (SECP) and other relevant authorities. The acquiring parties reserve the right to withdraw should approvals not be secured or if due diligence outcomes are not commercially feasible.

Crescent Star Insurance Limited, a reputable entity in Pakistan's insurance sector since 1957, is spearheading the acquisition. With a registered paid-up capital of 1.08 billion rupees, the company has established itself as a significant player in the general insurance market, serving a range of sectors including motor, health, fire, and marine insurance.

According to information available from the Pakistan Stock Exchange (PSX), Crescent Star Insurance Limited currently holds over 5.21 million shares in S.G Power Limited. The proposed transaction encompasses an agreement to acquire an additional 6.79 million shares, amounting to 38.05% of S.G Power Limited's total issued and paid-up capital.

Intermarket Securities Limited, serving as the manager to the offer, is tasked with ensuring the acquisition adheres to the provisions set forth by the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The acquisition is part of a strategic move by Crescent Star Insurance Limited to expand its footprint and influence in the power sector.

Stakeholders and market analysts will closely monitor the outcomes of this proposed acquisition, which could signal a significant reshaping of market dynamics within the designated market category.