IFIC Bank PLC Decides to Retain Promoter Shares in Nabil Bank, Suspends Share Purchase and Sale Process

Nabil Bank Limited (NABIL) has announced that the foreign promoter shareholder of the bank, IFIC Bank PLC, has decided to retain their ownership of 17,736,088 units of promoter shares, including all bonus shares.

Previously, on Mangsir 15, 2079, the bank issued a notice in the "Arthik Abhiyan" national daily regarding the sale of these promoter shares. Subsequently, the process to obtain approval from Nepal Rastra Bank for the received applications was initiated. However, the foreign promoter shareholder has decided to retain their shares in Nabil Bank and has withdrawn the application to sell the aforementioned shares.

Additionally, shareholders who had submitted proposals to purchase these shares have also retracted their applications, effectively withdrawing from the share purchase and sale process. This decision was deliberated upon in the 658th meeting of the Board of Directors convened on 19th Jestha, 2081. The Board acknowledged the situation and resolved to inform the regulatory authorities about the suspension of the share purchase and sale process.