Himalayan Bank to Float FPO | Appoints Citizens Capital as Issue Manager
June 19, 2024 | Investopaper
Himalayan Bank Limited (HBL) is planning to issue the Follow-on Public Offering (FPO). For this purpose, the company has appointed Citizens Capital Limited as the issue and sales manager. as the issue and sales manager.
An agreement has been reached between the bank and Citizens Capital on this regard. The agreement was signed by Ashok Shamsher, Chief Executive Officer of Himalayan Bank Limited and Sabir Bade Shrestha, Chief Executive Officer of Citizens Capital Limited.
Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON) after completing the necessary procedures. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
The 31st Annual General Meeting of Himalayan Bank passed a resolution to issue shares in FPO at a premium price.
What Is FPO?
FPO (Follow-On Public Offering) is the process of issuing shares to the public by the company already listed on the stock exchange. If the company issues shares to the public for the first time, it is IPO (Initial Public Offering). FPO is any additional issue of shares by the company after IPO.
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