Prabhu Bank proposes for conversion of Promoter shares into Public; Promoter holding to dilute

As per the noticed published today, BoD meeting of Prabhu Bank held on 19th Baisakh, 2075 has proposed to convert promoter shares into public. Currently, the promoter public ratio stands at 61.31 : 38.69

After the conversion the promoter shareholding will dilute to 51% whereas that of ordinary shareholders will surge to 49%.

The bank requires the permission from the central bank for this purpose. The bank has also requested its shareholders to convey their willingness or unwillingness regarding the conversion within 35 days.