Himalayan Bank Limited (HBL) is set to conclude the issuance of its 92,50,469 unit FPO shares at a nominal value of Rs. 100 starting today, i.e., 4th Shrawan, 2082. This issuance commenced on the 32nd Ashadh, 2082.
The establishment will offer 92,50,469 unit shares at Rs 157 each (with a premium of Rs 57) from the 32nd Ashadh, 2082, with the aim of raising Rs 1.45 Arba from this FPO. Citizens Capital Limited has been designated as the manager for the FPO issuance. Submissions are permitted for a minimum of 10 units and a maximum of 92,50,469 units.
As per CDSC, a total of 14,13,949 applications have been received for 3,29,53,820 units, indicating that the issuance has been oversubscribed by a rate of 3.56 times.
CARE Ratings Nepal Limited (CRNL) has lowered 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 ramifications. This downgrade is similarly applicable to HBL’s Subordinated Bond rating. These ratings reflect a moderate level of safety and credit risk regarding timely financial commitments in Nepal.
