Kathmandu: Kumari Bank Limited has opened the sale of 100,000 units of founder shares to general individual and institutional investors.
The bank has initiated the sale in line with directives issued by Nepal Rastra Bank after its existing founder shareholders did not exercise their primary right to purchase the shares within the stipulated period.
A total of 100,000 founder shares are available under the offer. The price of the shares will be determined through a competitive bidding process.
Applications Open for 35 Days
Interested investors are required to submit their applications to purchase the founder shares within 35 days from the date of publication of the official notice.
Application forms can be submitted in person at the office of the bank’s issue manager, Kumari Capital Limited, located at Naxal–Nagpokhari, Kathmandu.
Investors can also submit their applications at Kumari Bank Limited’s Corporate Head Office in Tangal, Kathmandu.
The bank had initially offered the shares to its existing founder shareholders in accordance with regulatory requirements. However, as no applications were received from the existing founders within the prescribed deadline, the shares have now been made available to general individual and institutional investors.
