Manjushree Finance Plans Rs 40 Crore Preference Share Issue
Summary
Manjushree Finance Limited plans to issue 8.75% perpetual non-cumulative preference shares worth Rs 40 crore through private placement, subject to regulatory approvals. The proposal will go before the company’s AGM and requires clearance from Nepal Rastra Bank and other authorities.
Key Points
- Manjushree Finance Limited plans to issue 4 million preference shares at a face value of Rs 100 each, raising Rs 40 crore.
- The shares will carry an 8.75% dividend rate and be issued only to institutional investors through private placement.
- Because the shares are non-cumulative, unpaid dividends will not carry forward to later years.
- The proposal needs approval from the upcoming AGM, Nepal Rastra Bank and other regulators.
