Citizens Bank’s Promoter Shares Open for Public Sale, Over 18,000 Units Available
Author
NEPSE TRADING
Citizens Bank International Limited has announced that promoter shares owned by one of its founding shareholders are now open for purchase by the general public.
According to the notice published by the bank, promoter shareholder Raj Kumar Thapa has applied to sell 18,844.72 units of promoter shares, including bonus shares approved at the bank’s 19th Annual General Meeting. The minimum selling price has been fixed at NPR 130 per share.
As per the directives of Nepal Rastra Bank, promoter shares must first be offered to existing promoter shareholders. In line with this provision, the bank had earlier published a notice on 2082/09/29 in a national daily, inviting applications from promoter shareholders.
However, since no applications were received from existing promoters within the stipulated period, the bank has now made the shares available to eligible members of the general public. The latest notice has been issued to inform interested individuals and institutions about this opportunity.
According to the bank, applicants who are legally eligible to purchase promoter shares must submit their applications within 35 days from the date of publication of the notice. Applications should be submitted to the bank’s central office at Narayanhiti Path, Kathmandu.
The bank has also stated that all transactions related to promoter shares must comply with prevailing laws and regulatory guidelines. Only applicants who fulfill the required legal, financial, and documentation criteria will be eligible for approval.
Market analysts believe that opening promoter shares to the public can help diversify ownership, strengthen corporate governance, and attract long-term investors. Such moves are also considered beneficial for enhancing transparency and stability in the banking sector.
Citizens Bank has expressed confidence that this initiative will improve shareholder participation, promote transparency, and further strengthen the bank’s position in Nepal’s capital market.
