Kathmandu. Machhapuchchhre Bank Limited has been granted permission to issue preferential shares worth Rs 3 billion.
The Securities Board of Nepal (SEBON) has granted permission to the shareholders to issue unissued equity preference shares. The bank will now issue 30 million units of preference shares at a face value of Rs 100.
Machhapuchchhre Bank has fixed the dividend rate at 8.25 percent. It is distributed only in the year of profit.
Laxmi Sunrise Capital has been appointed as the issue manager for the IPO issuance.
