Kathmandu. Sanima Bank Limited has received permission to issue preferential shares.
The Securities Board of Nepal (SEBON) has granted permission to NMB to issue unissued equity preference shares worth Rs 2 billion. Sanima Bank will now issue 20 million units of preference shares at a face value of Rs 100.
The bank has fixed the dividend rate at 8.25 per cent. It is distributed only in the year of profit.
Muktinath Capital has been appointed as the issue manager for the IPO issuance.
