Trading of Himalayan Bank Limited Resumes After Almost 13 Months To General Public But Restricted To Basic Shareholders Of The Company

The Nepal Stock Exchange (NEPSE) has issued a circular stating that the trading of securities for the Himalayan Bank Limited (HBL) has opened to the general public, except Basic shareholders of HBL. The last transaction price (LTP) of HBL as of 13th May 2021 was Rs 484 per share.

Himalayan Bank (HBL) and Nepal Investment Bank Limited (NIB), two pioneer banks had signed an MoU (Memorandum of Understanding) to go into a merger. However, the merger was canceled due to the conflicts between the shareholders of both companies.

Following the revocation of a merger between the NIB and HLB, the Nepal Rastra Bank (NRB) in accordance with the rules and regulations governed under the said Act has restricted the basic shareholders of HBL from buying/selling shares, and transferring rights. Last week, on the same grounds, NIB share trading was opened to ordinary shareholders but was restricted to basic shareholders of the company.

HBL had endorsed 21.38% stock dividend as well as 4.62% cash dividend from the profit it made in the FY 2077/78 to its shareholders. NEPSE has adjusted the same stock dividend on its LTP that was Rs 484 to make its price Rs 398.75 per share. The scrip opened at Rs 398.75 and at present due to huge selling price it is trading at 10% down circuit level at Rs 358.9 per share.