Siddhartha Dev. converting 9% promoter shares to Public Shares to make 51: 49 ratios

Sharesansar, August 18:

Siddartha Development Bank Limited (SDBL) is decreasing the promoter shares holding from existing 60 percent to 51 percent which means 9 percent will be converted to public shares.

The converted shares will be easily traded on secondary market (NEPSE). The board of directors meeting has already proposed the agendas and the proposal are already sent to Nepal Rastra Bank for approval.

After conversion, Promoter to Public ratio will be 51% to 49% respectively.

Siddhartha Development Bank Limited has paid up capital of Rs 64.50 crore and has Rs 20 crore in reserve and surplus  account and the bank’s earns Rs 16.18 crore during the end of last fiscal year 2071/72.