Kathmandu, June 22
The Himalayan Bank Limited
(HBL) is issuing 9.25 million unit shares in Further Public Offering (FPO).
The bank signed an agreement
with the Citizens Investment Trust (CIT) to manage the
public issuance and underwrite it.
The agreement was signed on Sunday by Parbat Kumar Karki, Executive
Director of the CIT, and Ashok Shumsher Rana, Chief Executive Officer of the bank.
Under the agreement, the CIT will underwrite 9,250,469 units of FPO
shares to be issued by the bank. The agreement will remain valid for a period
of three months from the date of signing.
The bank's 31st Annual General Meeting in January 2024 had
decided to authorise the Board of Directors to issue additional ordinary shares
to maintain the promoter and public shareholders shareholding ratio at 70:30.
Following the approval from the central bank, the HBL has proceeded with the
FPO.
Currently, the bank has 27.01 per cent public shareholders. According to
the Banks and Financial Institutions Act, it must have it at 30 per cent.
Established in 1993 as a joint venture of Habib Bank Limited of Pakistan,
the bank is offereing its services through 174 branch offices and 20 extension
counters across the country.
It also provides remittance service through online money transfer
software – HimalRemit.
Published in The Rising Nepal daily on 23 June 2025.
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