Last year, Nepal Rastra Bank (NRB) had issued directives that allowed promoters of NEPSE-listed companies to sell their shares to the public while maintaining the promoters´ shares at a minimum of 51 percent.
According to a NEPSE source, Nepal Merchant Bank Ltd, Birgunj Finance Company Ltd, Siddhartha Bank Ltd, Ace Development Bank and Mahalaxmi Finance Ltd have sought permission.
Nepal Bangladesh Bank, and Nepal Credit and Commerce Bank have already sold 19 percent of their promoters´ shares.
As per the central bank´s directives, promoters of any listed company can apply to sell their shares after approval from the board of directors, and then from NRB. The decision to sell is subject to approval from the company´s annual general meeting.
Related story
Palpa Cement issues IPO, 4.5 million shares allocated to the pu...
