Listing of BoB preferred “K” shares on the BSE on October 10

 

In a previous extraordinary general assembly meeting held by BoB on May 26, 2016, the bank decided on increasing its capital from LBP 109,387,674,000 ($72.56B) to LBP 115,218,674,000 ($76.43B), through the issuance of 4M preferred K shares.

The shares will have a nominal value of LBP 1,460/share or ($0.97/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%.

The Beirut Stock Exchange (BSE) confirmed the shares will be listed and traded starting the 10th of October, 2016.

Moreover, the minimum direct deal of preferred “K” shares, traded over-the-counter, will stand at $100,000.

 

Characteristics of BoB Preferred Shares “K”

Number of shares issued4,000,0000
Nominal Value per shareLBP 1,460
Price per Share$25
Dividend Yield6.5%
Type of Shareperpetual, non-cumulative, redeemable

 

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