Siddhartha Investment Growth Scheme 2 (SIGS2) extended the issue due to undersubscription
August 12, 2019 | Investopaper
Siddhartha Investment Growth Scheme 2(SIGS2) has extended the issue date of its offering. Due to the under-subscription of shares, the issue has extended to Bhadra 20, 2076.
SIGS2 is floating 14 crores units at the par value of Rs. 10 from Shrawan 23, 2076. In the earliest, the issue was set to open until Shrawan 27, 2076. However, the issue remained under-subscribed until that period. So, the issue extended to Bhadra 20, 2076. Siddhartha Bank will purchase 15 percent or 2.10 crores units of the fund.
Major Features of the issue are:
—Investors can apply for a minimum of 100 units and a maximum of 1.40 crores units.
—Siddhartha Capital Limited is the issue manager for the fund.
—Siddhartha Investment Growth Scheme 2 (SIGS2) is a close-ended fund. It will mature in 10 years after the allotment.
—Investors can trade the shares in the stock exchange (NEPSE) after the listing.
—ICRA Nepal has provided AMC Quality 3+ (AMC 3+) ratings to the issue of SIGS2. This rating indicates adequate assurance on the fund management quality.
