RBB Merchant Banking Closing IPO Of “RBB Mutual Fund 2” On Baisakh 31
May 14, 2023 | Investopaper
RBB Merchant Banking Limited has launched a new mutual fund scheme named “RBB Mutual Fund 2”. The fund manager is currently issuing 12 crores units of the scheme to the public from Baisakh 17, 2080 BS. At a par value of Rs. 10, the total issue amounts to Rs. 120 crores.
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The public offering will close on Baisakh 31, 2080 BS. Earlier, the scheme offering was set to close on Baisakh 21, 2080 BS. However, due to under-subscription until that period, the deadline for application was extended.
The close-ended scheme “RBB Mutual Fund 2” will operate under “RBB Mutual Fund”.
Out of the total public issue, 15 percent or 1.8 crore units of the fund will be purchased by Rastriya Banijya Bank, the promoter bank of the mutual fund. Therefore, the general public can subscribe for the remaining 10.2 crore units.
Interested investors can apply for a minimum of 100 units and a maximum of 1.2 crore units.
The fund manager has already received approval from the Securities Board of Nepal (SEBON) on Chaitra 5, 2079 BS. The company had submitted the application to board on Ashwin 13, 2079 BS seeking permission to issue the units of the mutual fund scheme. Only after the permission from the regulatory body SEBON, the mutual fund scheme can be floated to the general public.
After the allotment of the scheme, it will be listed and traded on the Nepal stock exchange.
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