Kathmandu. Siddhartha Bank has also got permission to issue preferential shares. With this, the number of banks allowed by the Securities Board of Nepal (SEBON) to issue preferential shares has reached 4.
The Securities Board of Nepal (SEBON) has granted permission to the issuance of SBL Unissued Preferential Shares worth Rs 3.50 billion. Now, the bank will issue 3.5 crore units of preference shares at a face value of Rs 100.
Siddhartha Bank has a dividend rate of 8.25 percent. It is distributed only in the year of profit. NMB Capital has been appointed as the issue manager for the IPO issuance.
Earlier, Nabil Bank and NMB Bank and Kamana Sewa Bikas Bank had been granted permission to issue preferential shares to the commercial banks. Nabil Bank has been allowed to issue preferential shares worth Rs 5 billion, NMB Bank Rs 3 billion and Kamana Sewa Bikas Bank Rs 350 million.
