Kathmandu, Jan. 26
Kamana Sewa Bikas Bank Ltd. has announced
plans to issue non-redeemable, non-cumulative preference shares with a 9 per
cent annual dividend. The bank will issue 3.5 million shares with a face value
of Rs. 100 each, amounting to Rs. 350 million.
The class 'B' bank has appointed NIMB Ace
Capital Limited as the issue and sales manager to manage the issuance and sales
process.
"The preference shares, aimed at
enhancing the bank’s supplementary capital, will carry a fixed annual dividend
of 9 per cent," the bank informed in a statement. As these shares are
non-redeemable, no maturity period has been specified, and they will be issued by
circular - through a private placement process.
The agreement regarding the issuance was
signed by the bank's CEO, Dinesh Thakali, and NIMB Ace Capital's General
Manager, Sachindra Dhungana.
Published in The Rising Nepal daily on 27 January 2025.
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