Prabhu Bank Limited has announced that more than 4.22 lakh of its founder shares are now up for sale to the general public. These shares were previously owned by 10 different founder shareholders of the bank.
Earlier, the bank had given a 35-day notice allowing other existing founder shareholders to apply for the purchase. However, since no one applied during that period, the bank has now opened the sale to the public.
Investors interested in buying these founder shares must apply within 15 days from the date of this notice. Applications should be submitted to the bank’s central office located in Babarmahal, Kathmandu.
The bank has also mentioned that applicants must meet the “Fit and Proper” criteria set by Nepal Rastra Bank and include all required documents while applying.
