June 8, 2022 | Investopaper
NIC Asia Capital Limited has launched a new mutual fund scheme named “NIC Asia Flexi Cap Fund”. The fund manager currently issuing 10 crores units to the public (IPO) from Jestha 19, 2079 BS. At a par value of Rs. 10, the total issue amounts to Rs. 100 crores.
Due to the full-subscription, the scheme offering will close on Jestha 25, 2079 BS.
The close-ended scheme “NIC Asia Flexi Cap Fund” will operate under the fund “NIC Asia Mutual Fund”.
Out of the total public issue, 15 percent or 1.5 crore units of the fund will be purchased by NIC Asia Bank, the promoter bank of the mutual fund. Hence, the general public can apply for the remaining 8,50,00,000 units.
One can submit the application for a minimum of 100 units and a maximum of 1,00,00,000 units.
Securities Board of Nepal (SEBON) had granted the approval to the fund manager on Baisakh 29, 2079 BS to issue the units to the public. Only after the permission from the regulatory body SEBON, the mutual fund scheme can be floated to the general public.
NIC Asia Flexi Cap Fund is a close-ended scheme. After the allotment of the scheme, it will be listed and traded on the Nepal stock exchange.