Conversion of Promoter Shares of Corporate Development Bank Limited ; Shareholding Ratio To Be Changed
A notice has been published by Corporate Development Bank Limited (CORBL) where the promoter shareholders regarding the proposed revision of its shareholding structure, which will reduce the proportion of promoter shares from the existing 70 percent to 60 percent in line with prevailing regulatory provisions.
As of now, the company has 5,250,000 unit shares listed in NEPSE. Likewise, the shareholding structure consisted of promoters (70%) and the public (30%).
The bank has requested all founding shareholders to inform whether they wish to retain their promoter share status or convert their shares into the public share category. Promoter shareholders must inform the company's head office within 35 days from the notice publication if they wish to retain their shares under the new structure.
CORBL closed at Rs. 1,714.00.
