In a strategic move that underscores the growing trend of insurance companies diversifying their investment portfolios, Crescent Star Insurance Ltd has announced a substantial acquisition of shares in Tristar Power Ltd. The transaction, which took place on January 20, 2025, marks a significant step in Crescent Star’s investment strategy and highlights the increasing role of insurance companies as institutional investors in Pakistan’s energy sector.
According to a disclosure statement issued by Crescent Star Insurance on January 21, 2025, the company has acquired additional voting shares of Tristar Power Ltd at a price of Rs. 6.45 per share. This recent purchase has elevated Crescent Star’s total shareholding in Tristar Power to 2,203,997 shares, representing a 14.69% stake in the power company’s total issued voting shares.
The acquisition represents a notable increase from Crescent Star’s previous holding of 2,071,919 shares in Tristar Power. This move not only strengthens Crescent Star’s position as a significant shareholder but also signals the insurance company’s confidence in the long-term prospects of Pakistan’s energy sector. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
