Kathmandu: Himalayan Bank Limited’s Further Public Offering (FPO) has been oversubscribed by 4.43 times, with applications closing on Sunday.
A total of 178,782 applicants sought 49,66,500 unit shares, far exceeding the bank’s offer of 9,25,469 unit shares at Rs 157 per share.
The FPO, which opened on 16 July, was issued to comply with the Bank and Financial Institutions Act, 2016, mandating that at least 30 percent of the total issued capital must be publicly floated.
The bank’s current shareholding structure is as follows: The paid-up capital is Rs 21.656 billion among which promoters’ share is 72.99 percent while the public share is 27.01 percent.
To meet the 30 percent public share requirement, the bank floated shares worth Rs. 1.452 billion. Post-FPO, the bank’s paid-up capital will rise to Rs. 22.581 billion.
Citizens Capital Limited managed the share issuance and sale process.
Comment Here