Global IME Capital To Close IPO Of ‘Global IME Balanced Fund-1’ From Shrawan 4

July 20, 2022 | Investopaper

Global IME Capital Limited, the fund manager of Global IME Mutual Fund, is currently issuing shares of ‘Global IME Balanced Fund-1’ Scheme from Ashad 22, 2079 BS. The company is selling 12 crores units of the scheme in the IPO at a par value of Rs 10. Hence, the total issue size amounts to Rs 1.20 Arba.

The offering of mutual fund will close on Shrawan 4, 2079 BS. The issue was set to close on Ashad 26, 2079 BS. However, due to under-subscription of units until that period, the deadline for application was extended.

One can apply for a minimum of 100 units and a maximum of 1,20,00,000 units.

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Securities Board Of Nepal (SEBON) had granted the approval to the company on Jestha 4, 2079 BS for the issuance of units to the general public. The company had submitted the application to the board on Mangsir 24, 2077 BS. Only after receiving the approval from SEBON, the company can issue shares to the public.

‘Global IME Balanced Fund-1’ is managed by Global IME Capital Limited under the Global IME Mutual Fund. It is promoted by Global IME Bank. As the promoter bank, Global IME Bank will purchase 13.5 percent of the total issue i.e. 1.62 crore units of the scheme. Likewise, the fund manager, Global IME Capital will invest in 1.5 percent or 18 lakh units. Therefore, the general public can apply for the remaining 10,20,00,000 units.

Global IME Balance Fund-I is a close-ended scheme. After the allotment of the scheme, it will be listed and traded on the Nepal stock exchange.

Despite being new, Mutual Funds are slowly gaining popularity in Nepal. Since they are managed by professional experts, they have offered satisfactory returns to the unitholders at a lower risk.

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