Himalayan Bank Limited is set to issue 92,50,469 units of Further Public Offering (FPO) starting Wednesday, Asar 32, to comply with regulatory requirements under the Banks and Financial Institutions Act, 2073.
FPO Details and Pricing
The FPO is being issued to increase the general public’s shareholding to the required 30% of the bank’s total paid-up capital. Currently, the bank’s paid-up capital exceeds Rs. 21.65 arba, with 72.99% held by promoters and 27.01% by the public.
To meet the statutory requirement, the bank will offer the FPO at a price of Rs. 157 per share, which includes a face value of Rs. 100 and a premium of Rs. 57. The total size of the offering will exceed Rs. 1.45 arba.
Application Period and Limits
Interested investors can apply for a minimum of 10 shares and up to the full amount available. The application deadline is Shrawan 4, with a possible extension to Shrawan 14 if the issue remains under-subscribed.
Credit Rating and Issue Management
The issue has received a credit rating of “CARE NP BBB (Issuer)” from CARE Ratings Nepal, indicating moderate credit risk. The issue manager for the FPO is Citizens Capital Limited, and applications can be submitted through the “Mero Share” platform via the C-ASBA system.
Upon completion of the FPO, Himalayan Bank’s total paid-up capital will exceed Rs. 22.58 arba.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
