Lumbini Bikas Bank Promoters Announce Sale of 120,090 Promoter Shares

Kathmandu — Lumbini Bikas Bank Limited has issued a 35-day public notice after two of its existing promoters applied to sell a combined 120,090 promoter shares registered under their names.

According to the bank, promoter shareholder Kanchha Gurung has requested approval to sell 100,000 promoter shares, while Prakash Man Shrestha has applied to sell 20,090 promoter shares. Based on their applications, the bank has informed all existing promoter shareholders about the opportunity to purchase these shares.

Interested promoter shareholders are required to submit a written notice expressing their intent to buy the shares within 35 days from the date of the first publication of the notice. Applications must be submitted to the bank’s central office in Dillibazar, Kathmandu.

The bank has stated that if no written interest is received within the stipulated period, the share sale process will move forward according to the Bank and Financial Institutions Act 2073, Nepal Rastra Bank’s Unified Directives, and other prevailing laws.

Lumbini Bikas Bank Limited is a “Class B” financial institution licensed by Nepal Rastra Bank and operates its central office from Sunrise Biz Park, Dillibazar, Kathmandu.