CSIL acquires voting shares in TSPL

By MG News | Category Equity | January 22, 2025 at 11:12 AM GMT+05:00

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January 22, 2025 (MLN): Crescent Star Insurance Limited (PSX: CSIL) acquired voting shares of Tristar Power Limited (PSX: TSPL) on January 20, 2025, at a rate of Rs6.45 per share.

As a result of the acquisition, CSIL now holds a total of 2.2 million shares in Tristar Power Limited, which represents 14.69% of the total issued voting shares of the company, the company's filing on PSX revealed today.

This is an increase from their previous holding of 2.07mn shares.

CSIL was incorporated in Pakistan as a Public Limited Company in the year 1957 under the Companies Act, 1913 (now the Companies Act, 2017).

The Company is engaged in providing non-life general insurance services mainly in spheres of Fire and property damage, Marine, aviation and transport, Motor, Credit & suretyship, Accident & health and Miscellaneous.

TSPL was incorporated in Pakistan, as a public limited company on November 14, 1990, under the Companies Ordinance, 1984.

The principal activity of the company is manufacturing and sale of electricity.

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