Kathmandu. Prabhu Bank to issue unissued unissued preference shares worth Rs 5 billion.
The meeting of the Board of Directors of the bank has decided to issue preferential shares with the approval of the special general meeting and regulatory bodies including Nepal Rastra Bank. As per the agreement, the bank will issue a total of 50 million units of preferential shares at face value of Rs 100.
The dividend rate will be 8.5 per cent per annum, according to the bank. This dividend will be distributed only in the years when the bank is profitable.
