December 4, 2023 | Investopaper
NIC Asia Capital Limited has launched a new mutual fund scheme named “NIC Asia Growth Fund-2”. The fund manager is currently issuing 10 crores units at a par value of Rs. 10. Hence, the total issue amounts to Rs. 100 crores.
The public offering is open from Mangsir 4, 2080 BS. It will close on Mangsir 18, 2080 BS. If fully subscribed, the scheme offering was set to close on Mangsir 7, 2080 BS. However, due to under-subscription until that period, the deadline for application was extended.
For this purpose, Securities Board Of Nepal (SEBON) has given the permission to the company on Ashwin 12, 2080 BS. The fund manager had submitted the application to the board on Karthik 14, 2078 BS seeking approval to float the units to the public.
The close-ended scheme “NIC Asia Growth Fund-2” will operate under the fund “NIC Asia Bank 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 participate in the remaining 8.5 crore units.
After the allotment of the scheme, it will be listed and traded on the stock exchange.