Kathmandu. NMB Bank 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 3 billion. NMB Bank will now issue a total of 30 million units of preferential shares at a face value of Rs 100.

The dividend rate of the bank is 8.25 percent. It is distributed only in the year of profit.

Siddhartha Capital Limited has been appointed as the issue manager for the IPO issuance.