Kathmandu: Ten founding shareholders of Prabhu Bank have decided to sell their shares.
As the existing founding shareholders did not purchase these shares, the bank has opened the sale to the general public.
The bank announced that the 10 founding shareholders intend to sell over 400,000 units of their founding shares. Starting Monday, the bank has invited applications from interested investors to purchase these shares.
According to the bank’s notice, investors wishing to buy the 422,771 units of founding shares held by the 10 shareholders must submit their applications within 15 days of the notice’s publication at the bank’s central office in Babarmahal.
The applications must include documents meeting the “Fit and Proper Test” criteria set by Nepal Rastra Bank.
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