Himalayan Bank is making preparations to issue Follow-on Public Offerings (FPO).
The bank is set to float a proposal for the issuance of FPO in the general meeting scheduled for January 4.
Banks and Financial Institutes (BFIs) have to issue at least 30 percent of shares to the general public, according to the provision.
The shares issued to the general public by Himalayan Bank is less than 30 percent. Hence, the Bank is making preparations to issue FPO so as to make up at least 30 percent of stakes from the general public in the bank.
Himalayan Bank had only 15 percent of public shares before its merger with Civil Bank.
The number of FPO shares to be issued to the general public will be determined by the board of directors only after it gets the authorization from the general meeting.
Currently, the bank has a paid-up capital of Rs 21.65 billion rupees.
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