IBL Bank Issued Preferred Series “3” shares
Based on the general assembly meeting held on the 28th of September, the Intercontinental Bank of Lebanon’s (IBL) decided on increasing its capital from LBP 150B to LBP 155.625B through the issuance of 750,000 Preferred Series “3” shares , at a nominal price of LBP 7,500, each. These preferred shares will be traded over-the-counter (OTC), noting that dividends are not cumulative and the annual dividend equals 7.5% per year (subjext to adjustment).
Characteristics of IBL Preferred Series “3” shares
| Number of shares issued | 750,000 |
| Nominal Value per share | LBP 7,500 |
| Issue Price | $100 |
| Dividend Yield | 7.5% |
| Type of Share | perpetual, non-cumulative, redeemable |
| Execution Date | 18/11/2016 |
