Nabil Bank has allotted Rs 5 billion worth of 8% non-redeemable preference shares to institutional investors, completing the process within a month of SEBON approval.
Nabil Bank has completed the allotment of 5 crore ‘Nabil 8% Non-Redeemable Preference Shares’ on Tuesday. The shares were issued and allotted exclusively to institutional investors through the private placement method, with NIC Asia Capital acting as the issue and sales manager.
The Nepal Securities Board (SEBON) had granted approval for the issuance on Mangsir 5, and the bank completed the issuance and allotment process within one month. These shares will be listed on NEPSE, but trading will initially be limited to institutional investors only.
Non-redeemable preference shares are capital market instruments with a fixed dividend rate, and in this case, investors will receive an annual dividend of 8 percent. No maturity period has been set for these shares.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
