Kathmandu. KATHMANDU: The Special General Meeting (SGM) of Citizens Bank International Limited has endorsed a proposal to issue unissued unsecured preference shares worth Rs 2 billion with fixed dividend rate of 7.5 percent.
The AGM held on June 17 endorsed the proposal to issue shares at a 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 a circular method. The shares can also be traded in the secondary market as there is a provision to pay dividend only in the year of distributable profit. Presently, the bank has a paid-up capital of Rs 15.50 billion.
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