Progressive Finance Limited and Kumari Bank Limited have put their founder shares up for sale, targeting their existing founder shareholders in the first phase.
Progressive Finance Limited and Kumari Bank Limited are selling founder shares owned by their promoter shareholders. Following the directive of Nepal Rastra Bank, both of the institutions are offering these shares only to existing founder shareholders in the first phase.
Progressive Finance Share Sale Details
Progressive Finance has opened the sale of 2 lakh 18 thousand 692 units of founder shares. Existing founder shareholders who are interested to buy these shares must submit application to the Board of Directors within 35 days from the date of notice publication.
The company also clarified that if no applications are received from the existing founders within the given deadline, these shares will then be offered for sale to general public.
Kumari Bank Share Sale Details
Similarly, Kumari Bank is also selling 47 thousand 324 units of founder shares owned by its existing promoters. Interested existing founder shareholders can apply for these shares within 35 days from date of notice publication.
Applicants can submit their forms at Kumari Capital Limited located in Naxal, Kathmandu, or directly at the bank head office in Tangal. The bank mentioned that the selling price of the shares will be as decided by the seller.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
