Crescent Star Insurance Limited and SG Power Limited have approved a series of strategic initiatives, including a proposed joint venture in digital and virtual asset-related activities through Crescent Star Technologies (Private) Limited, as both companies move to reposition their businesses for long-term growth.
In separate disclosures to the Pakistan Stock Exchange on Friday, the two companies said their respective boards held emergent meetings on December 24, 2025, to review investment strategy, business direction, and capital structure.
Crescent Star Insurance Limited said its board approved, in principle, a review of the company’s investment position in SG Power Limited with the objective of optimising investment returns. The board also approved the activation of Crescent Star Technologies, a wholly owned subsidiary of Crescent Star Insurance, through a proposed joint venture arrangement with SG Power.
Under the proposed structure, SG Power Limited is expected to acquire a 51% equity stake in Crescent Star Technologies, while the remaining 49% will be retained by Crescent Star Insurance, subject to regulatory and other required approvals.
Separately, SG Power Limited disclosed that its board approved, in principle and subject to shareholder approval, a change in the company’s principal line of business. The revised scope would include investment and holding activities, development and operation of technology-driven platforms, and the provision of digital, fintech, and innovation-based services through joint ventures and allied businesses, as permitted under applicable laws.
To support its revised business objectives, SG Power’s board also approved, in principle, an increase in the company’s authorised share capital to Rs10 billion. The increase will be carried out in phases, as and when required, with the timing to be determined by the board.
Both companies said Crescent Star Technologies, operating under the umbrella of Crescent Star Insurance and SG Power, will prepare a detailed proposal to apply to the Pakistan Virtual Assets Regulatory Authority or any other relevant authority, as required, to enable the subsidiary to undertake digital and virtual asset-related activities.
The boards of both companies have authorised their respective chief executive officers and company secretaries to carry out preparatory work and submit the necessary applications to regulators and other authorities.
No timeline or financial details of the proposed digital and virtual asset activities were disclosed in the filings.
In an earlier regulatory disclosure dated August 13, 2025, Crescent Star Insurance Limited informed the PSX that it intended to acquire 6,785,236 ordinary shares of SG Power Limited, a move that would result in the acquisition of control. The intention was submitted through Intermarket Securities Limited.
Crescent Star Insurance Limited was incorporated in Pakistan in 1957 as a public limited company and operates under the Companies Act, 2017. The company is engaged in non-life general insurance, with its business portfolio covering fire and property damage, marine, aviation and transport, motor, credit and suretyship, accident and health, and other miscellaneous insurance segments.
SG Power Limited was incorporated on February 10, 1994, under the Companies Ordinance,1984. The business of the company is the generation and supply of electric power to its associated company of SG Allied Businesses Limited.
