Everest Bank has informed about the conversion of its preference share. The bank is going to make a fourth conversion of its convertible preference share. As per the directive, Everest Bank will convert 20 percent of its preference share every 3 years.
The preference share is providing 7 percent dividend to the shareholders. The bank is planning to convert its 4th 20% pref. share on Ashwin 9, 2076.
Hence, for this purpose, the book closure date is set on Ashwin 2, 2076. Investors purchasing the Everest Bank Convertible Preference Share (EBLCP) before the book close date can convert the shares to EBL.
The last traded price (LTP) of EBLCP is Rs. 711.
Everest Bank Convertible Preference Share is only one of its kind in the Nepalese Share Market.