Kamana Sewa Bikas Bank Completes Allotment for 9% Non-Redeemable Preference Shares

Kathmandu. The allotment for the 'KSBBL 9 Percent Non-Redeemable Cumulative Preference Share' issued by Kamana Sewa Bikas Bank Limited was completed today. The share allotment took place at the office of NIBL Ace Capital Limited, the issue and sales manager of the bank, located in Lazimpat.

The bank stated that there was encouraging participation from investors for the preference shares issued equivalent to NPR 350 million. The bank announced that it received applications exceeding the issued amount by 1.9 times. The bank concludes that such enthusiastic participation reflects high investor confidence and attraction in the Nepali capital market and the financial sector.

The bank issued and opened the sale of these shares to institutional investors through the circular method from Magh 12 to Magh 15. These non-redeemable and cumulative preference shares, carrying an annual dividend rate of 9 percent, are being issued for the first time in the history of development banks.