Issuance of BBAC preferred “C” shares


BBAC issued 5,000,000 new preferred shares series “C”, worth $50M. The shares, whose issue price is $10 per share, will be sold in units, where each unit represents 100 shares.

Moreover, the shares will have a nominal value of LBP 1,033/share and will be not listed on the Beirut Stock Exchange (BSE).

Also, the preferred shares “C” are perpetual, non-cumulative and redeemable shares offering an annual yield of 7% of the issue price.

Characteristics of BBAC Preferred Shares “C”

Number of shares issued5,000,0000
Nominal Value per shareLBP 1,033
Price per Share$10
Yield per Year7% of the issue price
Type of Shareperpetual, non-cumulative, redeemable

Source: Midclear

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