Prabhu Mahalaxmi Life Insurance to Sell 98,490 Promoter Shares

Prabhu Mahalaxmi Life Insurance Limited has announced the sale of 98,490 promoter shares, currently held by five promoter shareholders. The company has offered these shares exclusively to its existing promoter shareholders initially, with a 35-day deadline to submit applications.

Interested promoters can submit their applications at the company’s central office in Kamaladi, Kathmandu, during the specified period.

If the existing promoters fail to purchase the shares within the given timeframe, the company has stated that these shares will be opened to public sale. This could significantly alter the company’s ownership structure, providing an opportunity for retail investors to acquire a stake in the company.