Kathmandu: Kumari Bank Limited has opened the sale of 78,677 units of founder shares to the general public. The bank initiated the public offering process after its existing founder shareholders did not submit applications to purchase the offered shares within the previously announced period.
Founder Shares Move to Public Sale
Existing founder shareholders of Kumari Bank had formally submitted applications expressing their intention to sell their founder shareholdings.
Under directives issued by Nepal Rastra Bank (NRB), founder shares are required to be offered first to existing founder shareholders before being made available to other investors.
Accordingly, the bank had initially provided an opportunity to its existing founder shareholders to purchase the shares. However, no applications were received from the existing founder shareholders during the initial notice period.
Following the absence of applications, Kumari Bank has now proceeded with the sale of the shares to individual investors, the general public, and eligible corporate entities.
78,677 Founder Shares on Offer
A total of 78,677 units of promoter/founder shares are available under the current offering. Eligible applicants include general public investors, individual investors, and corporate entities interested in purchasing the founder shares.
Interested applicants must submit their applications within 35 days from the date of publication of the official notice.
Where to Submit Applications
Applicants are required to submit their physical applications within the stipulated 35-day period at either of the following locations:
- Kumari Capital Limited (Share Registrar), Naxal, Nagpokhari, Kathmandu-1
- Kumari Bank Limited (Head Office), Tangal, Kathmandu-2
The public offering process follows the regulatory procedure requiring founder shares to be offered to existing founder shareholders first. With no applications received from the existing founder shareholders during the designated period, the shares have now been made available to the wider investing public and eligible entities.
