Kamana Sewa appoints NIMB Ace Capital as Issue Manager

KATHMANDU, JANUARY 27 : Kamana Sewa Bikas Bank Ltd. is set to issue 9% non-redeemable preference shares. The bank will issue 3.5 million shares, equivalent to NPR 350 million, at a face value of NPR 100 per share.

To manage the issuance through the circular process, the bank has appointed NIMB Ace Capital Limited as the issue and sales manager.

An agreement regarding the issuance was signed yesterday by the bank's CEO, Mr. Dinesh Thakali, and the General Manager of NIMB Ace Capital, Mr. Sachindra Dhungana.

The preference shares, aimed at increasing the bank's supplementary capital, will have a fixed annual dividend rate of 9%. Being non-redeemable, the shares do not have a set repayment period and will be issued through a circular process.