FPO Issue of Himalayan Bank Limited Closing Today; Oversubscribed 3.56 Times So Far

Himalayan Bank Limited (HBL) is closing the issue of its 92,50,469 unit FPO shares at a par value of Rs. 100 from today, i.e.,4th Shrawan, 2082. The issue opened on the 32nd Ashadh, 2082.

The company will issue 92,50,469 unit shares at Rs 157 per share (Rs 57 premium) from 32nd Ashadh, 2082, and intends to collect Rs 1.45 Arba from this FPO. Citizens Capital Limited has been appointed as the FPO issuance manager. Applications can be placed for a minimum of 10 units and a maximum of 92,50,469 units.

According to CDSC, a total of 14,13,949 applications have been submitted for 3,29,53,820 units, showing that the issue has been oversubscribed by 3.56 times.

CARE Ratings Nepal Limited (CRNL) has downgraded Himalayan Bank Limited’s (HBL) issuer rating from ‘CARE-NP BBB+ (Is)’ to ‘CARE-NP BBB (Is)’, while keeping it under credit watch with negative implications. The same downgrade applies to HBL’s Subordinated Bond rating. These ratings indicate a moderate safety and credit risk for timely financial obligations in Nepal.

Closing Notice: