NIFRA promoter shares will be traded as promoter shares after the lock-in period ends.

GP Chudal
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nifra

NIFRA promoter shares will be traded as promoter shares after the lock-in period ends

Published: Jan 25, 2024
Nepal Infrastructure Development Bank (NIFRA), Nepal's first and only infrastructure development bank, has stated that promoter shares will not be converted into ordinary shares once the lock-in period expires on March 6.

The business sent a notification to investors informing them that the promoter shares, which account for 55% of the total issued capital, will stay as promoter shares and will be sold separately from ordinary shares in secondary markets.

The corporation noted that promoter shareholders who want to sell their shares must follow a specific procedure. They will need to apply to the corporation with the specifics of the shares they wish to sell. The corporation will then send a 35-day notice to the existing promoters, giving them first priority to purchase the shares. If the current promoters do not buy all of the shares, the corporation will sell the remaining shares to outsiders.

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