Kamana Sewa Bikas Bank to Issue Perpetual Non-Cumulative Preference Shares

Kamana Sewa Bikas Bank Limited (KSBBL) has announced its intention to issue Perpetual Non-Cumulative Preference Shares, following the decision made during its 377th board meeting held on July 1, 2024.

The issuance, subject to approval at the upcoming Annual General Meeting for the fiscal year 2080/81 and regulatory clearance from Nepal Rastra Bank, aims to introduce 3.5 million units of Preference Shares at a face value of NPR 100 per share, aggregating NPR 0.35 billion.

The Preference Shares will carry a fixed dividend rate of 9% per annum and will be distributed exclusively during profitable years. KSBBL plans to conduct the issuance through Private Placement, targeting institutional investors, with no requirement for collateral.