Lumbini Development Bank Founder Shares Open for Sale; 20,290 Units Available to the Public

Kathmandu. A founding shareholder of Lumbini Development Bank Limited has initiated the sale of their promoter shares. The bank has published a second notice, inviting interested individuals and institutions from the general public to apply for the purchase.According to the notice, founder shareholder Prakash Man Shrestha had applied to the Board of Directors for approval to sell 20,290 units of promoter shares held in his name. Earlier, the bank had issued a notice giving priority to existing promoter shareholders. However, as no applications were received within the specified timeframe, the shares have now been opened for other interested individuals and institutions.The bank stated that only those individuals or entities who meet the eligibility criteria set by Nepal Rastra Bank can apply for the purchase of these promoter shares. Applicants are required to submit their applications along with necessary documents within 15 days from the date of publication of the notice at the bank’s central office in Dillibazar, Kathmandu.The bank has assured that the share sale process will be conducted transparently in accordance with prevailing regulations. This transaction is expected to bring a partial change in the bank’s promoter shareholding structure.Lumbini Development Bank Limited is a Class “B” licensed development bank in Nepal, providing financial services across the country. With the shares now open to the public, increased interest from eligible investors is anticipated.