Lumbini Development Bank puts 60,709 founder shares up for sale
Lumbini Development Bank has offered 60,709 founder shares held in the name of founder shareholder Kishor Raj Pandey for sale. Existing founder shareholders must express their intent to purchase within 35 days, failing which the shares will be sold to other individuals and institutions as per the Act.
Lumbini Development Bank has offered 60,709 founder shares for sale. Issuing a notice, the bank stated that the shares held in the name of founder shareholder Kishor Raj Pandey have been put up for sale.
Since existing founder shareholders have the first right to founder shares, the shares are being sold only to the bank's existing founders. Interested founder shareholders must submit written information within 35 days to the bank's head office at Dillibazar, Kathmandu.
If no written information is received from existing founders regarding the purchase of shares within the stipulated period, the bank said the shares will be offered to other interested individuals and institutions in accordance with the Bank and Financial Institutions Act 2073, Nepal Rastra Bank's Unified Directives, and other prevailing laws.