Kasthamandap Dev. Bank to convert 19% of promoter share into public

Kathmandu December 8- BOD meeting of Kasthamandap Development Bank Limited has decided to convert its promoter- public shareholders ratio from existing 70:30 to 51:49 as per directive of NRB.

As many interested promoters have filed application with the bank to sell their promoters shares, bank has published notice to sell its promoter shares.

As per the direction of Nepal Rastra Bank (NRB) for buying or selling promoter shares of the bank, promoter shareholders of the bank should be given the first priority and if the shares are not bought by promoter shareholders only then other person or institution can buy those under the direction of NRB.  

Thus, if any existing promoter shareholder is interested to buy promoter shares then the respective promoter should submit an application at Bank’s central office within 35 days of the notice published.