The existing promoter of Kumari Bank Limited (KBL), Niva Saiju, is auctioning 16,830 units of shares to interested promoter shareholders, starting from today.
Only existing promoters of KBL are eligible to bid for the auction within 35 days from the date of publication of this notice, i.e., 23rd Jestha.
Shareholders should submit their bids at the central office of the bank located at Tangal, Kathmandu, or at Kumari Capital Limited located at Naxal, Nagpokhari, Kathmandu. If no bids are received from existing founder shareholders within the specified timeframe, the shares will later be auctioned to the general public.
KBL’s share price closed at Rs. 142.80 on the latest trading day, while the partially paid-up rights shares (KBLPO) have a last traded price of Rs. 104.00.
This auction notice provides an opportunity for existing promoters of Kumari Bank Limited to increase their stake in the bank’s promoter group. The sale of these promoter shares by Niva Saiju could potentially lead to a reshuffling of the bank’s ownership structure and promoter group composition.
As the auction process unfolds, investors and market participants will closely monitor the developments, as they could have implications for the bank’s future strategic direction and governance.