Lumbini Development Bank Limited has opened 20,290 units of promoter shares for public sale after failing to attract interest from existing founder shareholders.

The shares, held under the name of promoter Prakashman Shrestha, were initially offered exclusively to current promoter shareholders in accordance with regulatory provisions that grant them first right of refusal.

The bank had issued a public notice on Falgun 10, providing a 35-day window for existing promoters to apply for the shares. However, with no applications received within the stipulated period, the bank has now extended the offer to the general public.

Interested individuals and institutions are required to submit their applications within the next 15 days, along with necessary documentation, at the bank’s central office located in Dillibazar, Kathmandu.

The move reflects a standard process in Nepal’s banking sector, where promoter shares are made available to the public if internal stakeholders choose not to exercise their purchase rights. Market participants will closely monitor demand for such shares, which often attract investors seeking long-term strategic stakes.