400,000 Unit Preference Shares of Everest Bank Limited converted to Ordinary Shares

In accordance with the Securities Listing Regulations, 2075, Nepal Stock Exchange Limited (NEPSE) has published a notice regarding the listing of shares of Everest Bank Limited (EBL).

As per the notice published, 400,000 Units of shares (From 9,42,73,404 to 9,46,73,403), after the Conversation of Convertible Preference Shares into Ordinary Shares of EBL have been listed on the stock exchange. These shares can now be traded in the secondary market.

The bank has been converting 20% of preference shares into common shares every three years. The preference shares provide a fixed dividend of 7% each year. Now the last 4 lakh units of shares are converted into ordinary share to complete the total conversion of preference shares.