Chase Securities on Crescent Star Insurance Limited (
#CSIL): "On April 16, the Sindh High Court officially approved the merger of Crescent Star Foods Private Limited, a subsidiary of CSIL, with and into PICIC Insurance Limited (
#PIL).
As part of the scheme of arrangement,
#PICIC will issue approximately 5.6 billion shares to CSIL. The transaction is expected to significantly strengthen CSL’s investment portfolio and equity base, while also making PIK a subsidiary of the company."
#PSX #Pakistán