January 5, 2023 | Investopaper
NIBL Ace Capital Limited is currently selling 16 crores units of its new mutual fund scheme named “NIBL Growth Fund” from Poush 7, 2079 BS. At a par value of Rs. 10, the total issue amounts to Rs. 160 crores.
The public offering will close on Poush 21, 2079 BS. Previously, the issue was set to close on Poush 12, 2079 BS. However, due to under-subscription until that period, the deadline for application was extended.
Securities Board of Nepal (SEBON) granted approval to the company on Mangsir 18, 2079 BS. The fund manager had submitted the application to the board on Ashwin 13, 2078 BS seeking permission for the issuance of units.
The close-ended scheme “NIBL Growth Fund” will operate under the fund “NIBL Mutual Fund”.
Out of the total public issue, 19 percent or 3.04 crore units of the fund will be purchased by Nepal Investment Bank, the promoter bank of the mutual fund, and one percent or 16 lakh units will be bought by NIBL Ace Capital Limited, the fund manager of the scheme.
Thus, the general public can apply for the remaining 12.8 crore units. One can subscribe for a minimum of 100 units and a maximum of 1.6 crore units.
After the allotment of the scheme, it will be listed and traded on the stock exchange.