Kathmandu: IFIC Bank of Dhaka is going to withdraw its investment in Nepal Bangladesh Bank.
The founder of IFIC has 36.8 million 27 thousand 426 shares in the bank. This has been discussed in the meeting of the Board of Directors of Nepal Bangladesh Bank.
The first right to buy the founder’s shares belongs to other founders. Therefore, the bank is going to inform its founding shareholders about this. Within 35 days, the bank will issue a notice in the national daily informing about the sale of the founder’s shares.
Founders wishing to purchase at the bank’s central office in Kamaladi will apply within 35 days from the date of publication of the notice. Interested founders will have to submit an application by attaching documents confirming the availability of tax paid income and the amount they want to purchase shares.
Also, IFIC Bank has the right to accept or reject any application based on the price and number of shares it wants to purchase, said Bishwaprakash Poudel, Company Secretary of the bank.
Meanwhile, Pakistan’s Habib Bank is also withdrawing its share investment in Himalayan Bank. The total number of shares of the company is 106.8 million 44 thousand 8.
In this regard, Habib is raising an additional amount of Rs. 6.4 billion by selling 21.3 million 68 thousand 801 founder shares.
Habib has tried to sell its founder shares at a rate of around Rs 283 per share. As the merger process with Investment is underway, the shares will be sold only after the completion of the merger.