--By TC Correspondent
The share holding structure of seven commercial banks has been changed. With this, the promoter’s shares in these banks will be 51 percent while the remaining 49 percent will be public shares. These seven banks are NB Bank, NCC Bank, NMB Bank, Kumari Bank, Siddhartha Bank, Sanima Bank and NIC Asia Bank.
The central bank allows promoters to offload their shares and turn them into ordinary shares after the lock-in period of five years is over and if the annual general meeting of the respective financial institution endorses the decision to increase public equity in the institution.
According to Sebon's Security Registration and Issue Regulation 2064, these promoter shares are to be converted to public shares through the process of offer documents as is followed during an initial public offering.
you need to login before leave a comment
Write a Comment
Comments
No comments yet.