Siddhartha Bank Limited has officially opened the sale of 2 lakh 72 thousand 737 units of its promoter shares to the general public starting today. This opportunity is now available to ordinary investors, corporate bodies, and other interested institutions after the bank completed the mandatory regulatory procedures for existing founders.
Background of the Share Sale
Prior to making these shares available to the general public, the commercial bank had issued a 35-day notice offering the same stock to its current promoter shareholders. This is a standard procedure aimed at allowing existing promoters to maintain their ownership ratio. Since no applications were received from the current founders within the specified 35-day period, the bank decided to extend the purchase offer to the public.
Application Process and Deadline Details
Cutoff Price for Himalayan Power Partner Auction Shares
Individuals and institutions interested in acquiring these promoter shares are required to submit a physical, written application. The application must clearly state the number of shares the investor wishes to purchase. All applications must be delivered directly to the company secretary’s office located at the central office of Siddhartha Bank in Naxal, Kathmandu.
According to the official notification issued by the bank, prospective investors must submit their bids and complete the application process within seven days from the publication date of the notice. Bids received after the deadline will not be entertained.