S.G. Power completes shift from power generation to healthcare, pharmaceuticals

S.G. Power Limited has completed the required corporate and regulatory formalities to change its principal line of business from Power Generation Allied (Other) to Pharmaceutical Allied (Healthcare Sector), the company said in a notice to the Pakistan Stock Exchange on Monday.

The company said the change was completed after shareholders approved the move through a special resolution at an Extraordinary General Meeting held on May 13, 2026, followed by registration of the relevant statutory filings with the Securities and Exchange Commission of Pakistan.

Under the amended principal line of business, the company is now authorised, subject to applicable laws and regulatory approvals, to import, export, manufacture, distribute, market, sell, rent, install, maintain and provide after-sales servicing of medical equipment, medical devices, hospital supplies and related healthcare products.

The revised business scope also allows the company to manufacture and trade pharmaceutical, medicinal and allied products, as set out in its amended Memorandum of Association.

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The company said the change provides the regulatory framework for pursuing opportunities in Pakistan’s healthcare and pharmaceutical sectors.

S.G. Power also said its name should reflect its new principal line of business and remain consistent with the objects in its Memorandum of Association. The company said it is currently completing the required corporate and regulatory process for changing its name to better represent its revised business focus.

On May 13, 2026, shareholders had approved a series of resolutions to transform the company into a healthcare and pharmaceutical-focused business, including changing its name from S.G. Power Limited to Crestwell Healthcare Limited, subject to regulatory approval from the SECP.

The shareholders also authorised the chief executive officer to adopt an alternative name if the proposed name is unavailable.

As part of the restructuring, shareholders approved amendments to the company’s Memorandum of Association to shift its principal business towards healthcare and pharmaceuticals.

According to the revised object clause, the company plans to engage in the import, manufacture, marketing, distribution, trading and maintenance of medical equipment, instruments, devices and hospital supplies.

The amended business scope also includes manufacturing and trading pharmaceutical, medicinal and chemical products, including vitamin preparations and healthcare-related products used for treatment and health promotion.

Shareholders also approved the relocation of the company’s registered office from Sindh to Punjab.

In another decision, the company approved an increase in authorised share capital from Rs200 million to Rs800 million. The authorised capital will now comprise 80 million ordinary shares with a face value of Rs 10 each, compared with 20 million shares previously.

The board of directors was also authorised to explore strategic partnerships, including distribution agreements, licensing arrangements, joint ventures and commercial collaborations with local and foreign pharmaceutical and healthcare entities.

Shareholders further allowed the company, subject to regulatory approvals, to establish or invest in subsidiaries, associated companies, branch offices and special purpose vehicles in Pakistan and abroad for operational and strategic purposes.

The company said it would notify the Pakistan Stock Exchange and other relevant stakeholders after completion of the name change process and all related approvals.