Himalayan Bank Gets SEBON Approval to Float FPO Shares
The Securities Board of Nepal (SEBON) has officially approved Himalayan Bank Limited’s proposal to issue a Follow-on Public Offering (FPO). The commercial bank is set to issue 9,250,469 shares at a price of Rs. 157 per share, which includes a premium of Rs. 57 on its face value of Rs. 100.
The FPO aims to strengthen the bank’s capital base and enhance its public shareholding structure. With this issuance, Himalayan Bank seeks to bring more investors on board and further solidify its position in the Nepali banking sector.
Citizens Capital Limited has been appointed as the issue manager for the FPO. The role includes overseeing the allotment process and ensuring regulatory compliance throughout the issuance.
The Himalayan Bank’s FPO has been assigned a rating of CARE-NP BBB (Is) by CARE Ratings Nepal. This rating indicates a moderate degree of safety regarding timely servicing of financial obligations, which can provide reasonable confidence to potential investors.
The exact opening and closing dates for the FPO application will be announced soon. Investors are advised to stay updated through the official website of Himalayan Bank and the issue manager, Citizens Capital.
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