19% of Shangrila Dev. Bank promoter share get converted into public share

Shangrila Development Bank Limited has decided to convert its promoter- public shareholders ratio. The company is converting the promoter to public share ratio at 51:49. The current structure of the bank is 70: 30 promoter-public shareholder ratio.This means that 19 percent of promoter shares will be converted into the ordinary shares.With this promoter to public proportion of SADBL now stands at 51: 49. The BOD meeting held on Mangsir 15 has decided to convert the share structure as directed by Nepal Rastra Bank.