KSBB to issue 9% dividend unredeemable preference shares

KATHMANDU: Kamana Sewa Bikas Bank (KSBB) has announced the issuance of unredeemable preference shares with a 9% dividend rate.

The bank will issue 3.5 million shares, valued at Rs 35 crore, with a face value of Rs 100 per share.

To manage the issuance and sale process, the bank has appointed NIMB Capital Limited as the issue and sales manager.

These unredeemable preference shares, aimed at boosting the bank’s supplementary capital, do not have a specified redemption period, as per the details in the issue circular.

The shares will be issued through a public offering process.

The agreement related to this issuance was signed by Dinesh Thakali, the bank’s CEO, and Sachindra Dhungana, General Manager of NIMB Capital Limited