Hamro Bikas to offload 19% promoter shares; promoter-public ratio to stand at 51% to 49%

ShareSansar, April 7:

The special AGM of Hamro Bikas Bank Limited is set to approve conversion of 19% of the promoter shares into ordinary shares.

Promoters currently hold 70 percent stake in the bank. After the AGM of Hamro approves the conversion proposal, 19% of promoter shares, which translates into more than 1.22 lakh units, will be released into the secondary market.

Hamro Bikas Bank is holding its Special Annual General Meeting on Baisakh 15. The AGM will be held at the hall of District Development Committee, Nuwakot.

The other agendas of the meeting will be to amend the article of association for the conversion and to expand the bank's branches.

Hamro Bikas Bank Limited had posted net profit of Rs.6.14 million in its 2nd quarter of the fiscal year 2071/72.