4% of Green Development Bank Promoter Shares Get Converted into Public Share

Green Development Bank Ltd. (GRDBL) has issued a notice announcing a modification in its promoter to public shareholding ratio. The company intends to adjust the ratio from its existing 55:45 to a revised ratio of 51:49. This decision was reached subsequent to the discussions held during the 207th meeting of the Board of Directors convened on Chaitra 15, 2080, at 3:30 PM.

Following the requisite approval obtained from Nepal Rastra Bank, Banking and Financial Institutions Regulation Department on Chaitra 7, the proposed alteration aims to maintain a balanced share ratio of 51:49. As per this adjustment, the bank will allocate 2,646,900 units of promoter shares and 2,543,100 units of public shares. The proposal for this amendment will be tabled during the upcoming 10th and 11th Annual General Meetings scheduled to convene on Chaitra 27, 2080.

Presently, GRDBL maintains a promoter-to-public share ratio of 55:45, with a distribution of 2,962,971 units of promoter shares and 2,424,249 units of public shares.