Following the extraordinary general assembly that took place on the 17th of November 2014, Bank of Beirut (BoB) decided to increase its capital by $2.69M to $69.49M via the issuance of 3,000,000 new preferred shares class “J”. The share’s subscription price is $25 and consists of a $0.90 nominal value and a $24.1 premium. The new shares will be listed on the Beirut Stock Exchange (BSE) on February 11th 2014.
It is worth noting that BoB had previously redeemed its preferred shares F for $2.69M on December 26th 2014.