Shangri-la Development Bank Limited Issues Administrative Correction Notice on Founder Share Sale Quantity

21st June 2026, Kathmandu

Shangri-la Development Bank Limited has formally released an administrative clarification concerning its ongoing founder equity reallocation.

Shangri-la Bank Correction Notice

The updated notice serves to rectify a mathematical misstatement regarding a block of promoter units put up for liquidation by an internal stakeholder. Executive management moved to update the official record after tracking inconsistencies between initial press releases and internal shareholder ledgers. By providing an accurate asset count, the bank satisfies the stringent disclosure benchmarks enforced by national banking regulators while ensuring that prospective internal buyers can evaluate their investment options with precise data.

Complete Summary of Amended Share Transaction Data and Rectified Publication Logs

The revised corporate disclosure aligns the ongoing internal equity transfer with verified shareholder registration books.

• Issuing Banking Entity: Shangri-la Development Bank Limited
• Corrected Total Share Volume: 149,638 promoter units
• Primary Transferring Shareholder: Mr. Pradeep Upadhyaya Dhakal
• Original 35 Day Notice Date: 2083/03/07 in the national daily newspaper
• Original 15 Day Notice Date: 2083/03/05 in the national daily newspaper
• Licensing Classification Tier: Class B Financial Institution certified by the Central Bank
• Designated Corporate Department: Shareholders and Equity Management Division
• Central Administrative Office: Baluwatar, Kathmandu, Nepal

Tracking Regulatory Compliance Frameworks in Public Stock Disclosures

Maintaining complete accuracy within public newspaper announcements is a mandatory legal obligation under the Securities Registration and Issue Regulation frameworks.

The central bank, Nepal Rastra Bank, along with the national securities board, mandates that any public listing of promoter assets must showcase identical figures across all communication channels to prevent misinformed trading behaviors. In this case, the previous announcements contained minor typos regarding the total number of shares owned by the founding shareholder. Because even tiny errors can pause formal transfer approvals, the bank corporate department acted quickly to pause the original timeline and submit a corrected breakdown to establish a clean regulatory paper trail.

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Processing Internal Buy Applications via the Designated Shareholders Department

With the correct volume now verified at exactly 149,638 shares, the processing of internal purchase requests can move forward under clean procedural rules.

Existing promoter shareholders who want to boost their total ownership percentage can review the updated asset volume and file their formal buy orders through the central share department in Baluwatar. Investors need to ensure that their application documents contain the updated figures to avoid administrative rejections during the final vetting phase. If these units remain unpurchased by current founders after the extended review window closes, the bank can look into alternative allocation pathways in accordance with prevailing corporate laws.

Strategic Value of Corporate Transparency in Building Long Term Investor Trust

For a growing financial market like Nepal, maintaining a high level of accuracy in official corporate notices directly impacts how the public perceives an institution stability.

Clerical mistakes happen in fast-moving corporate environments, but a willingness to quickly publish open corrections highlights a strong commitment to good governance. By keeping the communication channels clean and accurate, Shangri-la Development Bank Limited reinforces its reputation as a reliable and professional financial partner. This proactive management approach keeps retail depositors feeling secure, protects institutional investor trust on the local stock exchange floor, and allows the bank to continue expanding its community lending networks across all provinces.

For More: Shangri-la Bank Correction Notice