Bank of Beirut Issues New Preferred Shares K

During its extraordinary general assembly held on May 26, 2016, Bank of Beirut (BoB) decided to increase the bank’s capital from LBP 109.38B to LBP 115.22B by issuing 4 million preferred shares class “K”. The shares will have a nominal value of LBP 1,460/share and will be listed on the Beirut Stock Exchange (BSE) at an underwriting price of $25/share. Holders of preferred shares class G, H, I and J have the priority right to underwrite to the new issuance. Also, the preferred shares “K” are perpetual, non-cumulative and redeemable shares offering a dividend yield of 6.50%.

Number of Listed Bank of Beirut’s Shares

Type of Shares Number
Common Shares 16.822M
Priority 2014 4.762M
Preferred G 3.57M
Preferred H 5.4M
Preferred I 5M
Preferred J 3M
Preferred K        4M

 

Source: BSE

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