Kathmandu: Jyoti Bikash Bank Limited has initiated the process for the sale of promoter shareholdings following requests from existing promoter shareholders seeking to sell part or all of their stakes in the bank.
The bank has started the sale process after receiving applications from existing promoter shareholders expressing their intention to sell their promoter shares.
35-Day Application Window
According to the bank’s notice, eligible existing promoter shareholders are required to collect the necessary documents and submit their applications to purchase the promoter shares within 35 days from the date of publication of the notice.
Applicants must comply with the procedures and documentation requirements prescribed by the bank while submitting their applications within the specified deadline.
Share Volume and Base Price Not Disclosed
The bank has not yet publicly disclosed the exact total number of promoter shares proposed for sale or the minimum base price per share.
As a result, the current notice does not provide a confirmed figure for the total share volume or the minimum price at which the promoter shares will be offered. Further details and applicable terms are expected to be specified as the sale process moves forward.
No Applications Received in Initial Phase
According to the bank, no applications had been received from existing promoter shareholders during the initial notice phase as of the publication of the notice.
The bank has invited eligible existing promoter shareholders interested in acquiring the promoter shares to complete the required documentation and submit their applications within the prescribed 35-day period.
The process will provide eligible existing promoter shareholders an opportunity to participate in the acquisition of promoter shares made available through the bank’s share sale process.
