Kathmandu. KATHMANDU: The Special General Meeting (SGM) of Citizens Bank International Limited has approved the proposal of issuing unissued unpaid preference shares worth Rs 2 billion with fixed dividend rate of 7.5 percent.
The AGM held on June 19 endorsed the proposal to issue shares at the face value of Rs 100 per share.
After taking permission from the Securities Board of Nepal (SEBON), the bank will sell the shares to the institutional investors through circular method. The shares, which have a provision to pay dividends only in the year of distributable profit, can also be traded in the secondary market.
Presently, the bank has a paid-up capital of Rs 15.50 billion.
