Promoter share sell notice: BOK

Bank of Kathmandu has issued notice to its promoter shareholders who want to purchase promoters shares (35875 units) sell from its promoter.(Source: Jamb News Service)
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Promoter share sell notice: BOK

Bank of Kathmandu has issued notice to its promoter shareholders who want to purchase promoters shares (800 units) sell from its promoter.
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Promoter share sell notice: Paschimanchal Dev. Bank

Paschimanchal Dev. Bank Ltd. has issued notice to its promoter shareholders who want to purchase promoters shares sell from its few promoters(Source: Jamb News Services)
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Machhapuchchhre Bank: Promoter share sell notice

Machhapuchchhre Bank Ltd. has issued notice to its promoter shareholders who want to purchase promoters shares sell from its few promoters. (Source: Jamb News Service)
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Nepal Share Markets: Promoter share sell notice

Nepal Share Markets Ltd. has issued notice to its promoter shareholders who want to purchase promoters shares sell from its few promoters (Source: Jamb News Service)
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Promoter share sell notice: Fewa

Fewa Finance Co. Ltd. has issued notice to its promoter shareholders who are interested to purchase promoter shares from some existing shareholders.(Source: Jamb News Service)
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Bank of Kathmandu: Promoter share sell notice

Bank of Kathmandu has issued notice to its promoter shareholders who are interested to purchase promoter shares from some existing shareholders(Source: Jamb News Service)
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Peoples Finance: Promoter share sell notice

Peoples Finance Ltd. has issued notice to interested promoter shareholders who want to buy promoters shares from some promoters.
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Gorkha Finance: Promotor Right share on Auction

Gorkha Finance Ltd. has issued notice to interested promoter shareholders who want to buy the un-demanded 4500 units right shares form its promoter.(Source: Jamb News Service)
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Modality on promoters' share conversion tabled at SEBON

A proposal to convert promoters' shares into public shares through the secondary market has been tabled at the Security Board of Nepal (SEBON). The Security Registration and Issue Regulation 2009 states that promoters' shares can be converted into public shares through the process of offer documents like during an initial public offering (IPO). An official at SEBON confirmed that such a proposal had been submitted two weeks ago but that no decision had been made. SEBON chairman Surbir Poudel refused to confirm that such a proposal had been received. He said that SEBON was unlikely to decide presently when the market was in continuous decline. Rumors that 19 percent of the promoters' shares of financial institutions could be converted into public shares have contributed greatly to bringing down the stock market.

The Nepal Stock Exchange (NEPSE) index plunged to 630.11 points on Tuesday. Nepal Rastra Bank's (NRB) decision to allow financial institutions to maintain their promoters' shares at 51 percent from the existing 70 percent set off a trend of converting promoters' shares into public shares. Banks have been demanding that their promoters' shares be allowed to be made public through the secondary market besides the primary market. But SEBON has been allowing companies to go through the existing provisions in the Security Registration and Issue Regulation for conversion as there is no legal provision guiding SEBON for such conversion.

However, financial institutions that had converted their shares before the regulation was introduced last February have complained that they should not have been barred from purchasing and selling converted public shares. Bankers said that the promoters' shares of some banks including Development Credit Bank Limited (DCBL) had already been converted into public shares before the new regulation was introduced. "SEBON has stopped us from trading converted public shares in the secondary market until it takes another decision regarding the matter," said Sudhir Khatri, president and chief executive officer of DCBL. "We have become victims of SEBON's indecision now," he added. According to SEBON, no financial institution has ever applied to SEBON to convert promoters' shares into public shares as per SEBON regulations. SEBON chairman Poudel said that its regulation was guided by bringing transparency in the conversion process so that the general public could also purchase the shares.
Source:Kantipur

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Professional Bikash Bank: Notice to Promoter Shareholders

Professional Bikash Bank Ltd. has extended the time to deposit amount for right share issue to its promoter shareholders until 1st Nov. 09(2066 kartik 15) at 10% annual interest (Source: Jamb News Service)
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Alpic Everest Finance: Promoters Share Sale

Alpic Everest Finance Co. Ltd. has announced the sale of its prevailing promoter share.
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Paschimanchal Development Bank: Promoters Share Sale Notice

Paschimanchal Development Bank Ltd. has announced the sale of its prevailing promoter share.
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Peoples Finance: Share Sell Call

Peoples Finance Ltd. has made a call to the promoter shareholders for selling 609020 right shares. These are the unsubscribed shares after the right share issue.
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Share Sell Call: NBB

Nepal Bangladesh Bank is selling ordinary and promoter shares of three companies it owned. Interested candidates need to submit their application within 7 days from today.
Source: Jamb News Service
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NRB loosens the leash on promoter’s shares

Nepal Rastra Bank (NRB) has also allowed D class financial institutions to reduce their promoter's shares to 51 percent from the existing 70 percent.

According to the latest directive of the central bank, the remaining 19 percent of the promoter's shares can be traded in the secondary market like ordinary shares.

A, B and C class financial institutions already enjoy this privilege.

The central bank has also prohibited financial institutions from diverting the additional 25 percent investment ceiling to other sectors except power generation, transmission lines and cable cars.

"Otherwise, they will have to make cent percent provisioning of the loans exceeding the ceiling," the directive states.

Financial institutions cannot invest more than 25 percent in a single portfolio except the hydropower sector, according to the existing legal provisions.

"We issued the new directives to make it clear to the financial institutions that the additional facilities are not to allow them to divert funds to other sectors except the three particular sectors related to hydropower," said Laxmi Prapanna Niraula, director of NRB.

Likewise, the central bank has also specified how promoters can transfer the rights shares to others. According to the NRB directive, prospective promoter shareholders should possess the qualifications set by NRB, they should not have been blacklisted by the Credit Information Bureau and they should disclose the source of funds.

Financial institutions can transfer the rights shares themselves by making a provision in the memorandum of association and their regulations if promoters desiring to transfer their shares hold 1 percent or less of the company's stock. Those who hold more than 1 percent of the promoter's shares should obtain an OK from NRB.

If the rights shares are being transferred to the existing promoters, financial institutions can do it on their own following the existing NRB directives.
Source: Ekantipur
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NRB Loosens the Leash on Promoter's Shares

Nepal Rastra Bank (NRB) has also allowed D class financial institutions to reduce their promoter's shares to 51 percent from the existing 70 percent. According to the latest directive of the central bank, the remaining 19 percent of the promoter's shares can be traded in the secondary market like ordinary shares.

A, B and C class financial institutions already enjoy this privilege. The central bank has also prohibited financial institutions from diverting the additional 25 percent investment ceiling to other sectors except power generation, transmission lines and cable cars.

"Otherwise, they will have to make cent percent provisioning of the loans exceeding the ceiling," the directive states. Financial institutions cannot invest more than 25percent in a single portfolio except the hydropower sector, according to the existing legal provisions.

"We issued the new directives to make it clear to the financial institutions that the additional facilities are not to allow them to divert funds to other sectors except the three particular sectors related to hydropower," said Laxmi Prapanna Niraula, director of NRB. Likewise, the central bank has also specified how promoters can transfer the rights shares to others.

According to the NRB directive, prospective promoter shareholders should possess the qualifications set by NRB, they should not have been blacklisted by the Credit Information Bureau and they should disclose the source of funds.

Financial institutions can transfer the rights shares themselves by making a provision in the memorandum of association and their regulations if promoters desiring to transfer their shares hold 1 percent or less of the company's stock. Those who hold more than 1 percent of the promoter's shares should obtain an OK from NRB. If the rights shares are being transferred to the existing promoters, financial institutions can do it on their own following the existing NRB directives.
Source:
The Kathmandu Post
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Promoters Share Sale Notice: SDBL

Siddhartha Dev. Bank Ltd. has announced the sale of its promoters share.
Source: Jamb News Service
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Promoter Share Sale Call: ADB

Agriculture Dev. Bank Ltd. has made a call for selling 159720 promoter share of Nepal Aawas Bikas Beeta Co. Ltd.
Source: Jamb News Service
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Promoter Share Sale Call: LFC

Lalitpur Finance Ltd. has made a call for selling 31469 promoter share of Nepal Gharelu Tatha Sana Udhyog Bikash Bank Ltd
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