Bank Audi to Increase its Capital through the Issuance of New Preferred “I” Shares

During the extraordinary general assembly held on November 26 , 2016, Bank Audi  shareholders agreed upon the decision to raise the bank’s capital from LBP 668.19B ($443.24 M) to LBP 672.33B ($ 445.99 M) through the issuance of 2,500,000 new Preferred “I” shares worth $250M, with a nominal value of LBP 1,656 per share, to be listed on the Beirut Stock Exchange.

Characteristics of Bank Audi Preferred Series “I” shares

Number of shares issued2,500,000
Nominal Value per shareLBP 1,656
Issue Price$100
Dividend Yield7.00%
Type of Shareperpetual, non-cumulative, redeemable
Issue Date31/12/2016

Source: BSE

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