Sunrise Bank to restructure promoters’ holding

ShareSansar, Sept 24:

Sunrise Bank Limited has appealed to all its promoter shareholders to decide within 15 days whether or not to convert their promoter holdings to public shares as directed by the Nepal Rastra Bank.

Sunrise Bank has already got the consent of the central bank to restructure the shares of promoter shareholders from the existing 70 percent to 51 percent, and amend its legal documents accordingly.

The promoter shareholders can submit their application stating whether they want to convert the 70 percent of their shares to public shares at the bank’s registered office at Gairidhara or at its share registrar office, Civil Capital Market Limited, Kamaladi.

NCC, NBB, NMB, Siddhartha, Kumari, NIC Asia Bank, Sanima have already converted their promoter holding from 70 to 51 percent. Hence Sunrise Bank will now become the eighth one to follow the suit.