NMB Capital to Launch “NMB Hybrid Fund L-II” | To Issue 12 Crores Units in IPO
December 18, 2024 | Investopaper
NMB Capital Limited is in the process of launching a new mutual fund scheme named “NMB Hybrid Fund L-II”. The close-ended scheme “NMB Hybrid Fund L-II” will operate under “NMB Mutual Fund”. The fund manager is planning to issue 12 crores units at a par value of Rs. 10. Hence, the total issue amounts to Rs. 120 crores.
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For this purpose, Securities Board of Nepal (SEBON) has given permission to the company on Poush 2, 2081 BS. The fund manager has submitted the application to the board on Jestha 13, 2079 BS seeking approval to sell the units to the general public.
Only after the permission from the regulatory body SEBON, the mutual fund scheme will be floated to the general public.
Out of the total public issue, 15 percent or 1.8 crore units of the fund will be purchased by NMB Bank, the promoter bank of the mutual fund.
After the allotment of the scheme, it will be listed and traded on the Nepal stock exchange.
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