Himalayan Bank Limited (HBL) is expected to close its Further Public Offering (FPO) on 4th Shrawan, 2082 with 92,50,469 units priced at Rs. 100 per share. It was opened on 32nd Ashadh, 2082.

By selling 9,250,469 units at Rs 157 per share (a premium of Rs 57) the company expects to raise Rs 1.45 Arba. Citizens Capital Limited is the FPO manager. The maximum number of units that can be applied for is 92,50,469, with a minimum of 10 and a maximum of 92,50,469 per application.

The CDSC reports that 6,41,985 applications have been submitted for 1,39,33,580 units, so the issue has already been oversubscribed by 1.50 times.

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 keeping it under credit watch. Subordinated Bonds of HBL were also downgraded. According to these ratings, Nepal has a moderate risk of not meeting its financial obligations in a timely manner.