Preference Shares of Everest Bank Limited converted to common stocks; 400,000 units listed

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 Shares (After Conversation of Preference Shares into Common Shares) of Everest Bank Limited has 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 only 4 lakh units more to be converted in to ordinary share to complete the total conversion of preference shares, which will happen after 3 years from now.