Himalayan Bank Limited (HBL) has initiated the process of offering its 9,250,469 FPO shares at a price of Rs. 157 each (which includes a premium of Rs. 57), starting today, specifically on the 32nd of Ashadh, 2082. The initial closing date for this share offering is set for the 4th of Shrawan, 2082. However, if it remains undersubscribed, the deadline can be extended until the 14th of Shrawan, 2082.
The bank intends to issue 9,250,469 unit shares at Rs 157 per share (with a Rs 57 premium) beginning from the 32nd of Ashadh, 2082, with the goal of raising Rs 1.45 Arba through this FPO. Citizens Capital Limited has been appointed as the manager for the FPO issuance. Applications are accepted for a minimum of 10 units and a maximum of 9,250,469 units.
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 placing it under credit watch with negative consequences. This downgrade also pertains to HBL’s Subordinated Bond rating. These ratings reflect a moderate degree of safety and credit risk regarding the timely execution of financial obligations in Nepal.
