Luminor Financial (SGX:5UA), through its subsidiary Luminor Assets, issued and allotted 2,750,000 redeemable preference shares, according to a filing with the Singapore Exchange on Wednesday.

The shares were issued under the group's 500 million ringgit RPS program at an issue price of 1.0 ringgit per share, or nearly 2.8 million ringgit.

The shares will mature on March 28, 2027. Proceeds will be advanced to operating entities to fund their disbursement requirements.