Promoter shares of two companies converted to public shares; more than 4 Million units converted

Nepal Stock Exchange Limited (NEPSE) has published a notice regarding the conversion of promoter shares into public shares of two companies, Prabhu Bank Limited (PRVU) and Deva Bikas Bank Limited (DBBL).

As per the notice published, 4,126,206.13 units Promoter shares of Prabhu Bank Limited has been converted into Public Share, making the Promoter to Public share ratio of the company 51:49.

Similarly, 185,193 units Promoter shares of Deva Bikas Bank Limited (DBBL) has been converted into Public Share, making the Promoter to Public share ratio of the company 51.50 : 48.50. The development bank is in the process of merger with Kumari Bank Limited (KBL).

A total of 4,311,399.13 units of shares have been made freely tradeable on the secondary market.