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