Prime Commercial Bank promoter shares converted to public share

ShareSansar March 11:

Prime Commercial Bank Limited has decided to convert its promoter shares to public shares leading to a promoter to public ratio of 51% to 49%.

As per a notice posted on NEPSE’s website, 49,56,198 promoter shares of the company will be effectively converted to public shares from Falgun 26. The shares would now be available for purchase by common investors at market rate. The shares last traded at Rs 448.

The conversion of shares was approved by NRB on Asar 22 and by SEBON on Baisakh 4 last year. Prime Commercial Bank Limited has posted net profit of Rs.362.10 million in its 2nd quarter company analysis of the fiscal year 2071/72.