Sunrise Capital Selling 12 Crore Units Of ‘Sunrise Focused Equity Fund’ From Magh 10

January 24, 2023 | Investopaper

Sunrise Capital Limited is in the process of launching a new mutual fund scheme named “Sunrise Focused Equity Fund”. The fund manager is planning to issue 12 crores units of the scheme from Magh 10, 2079 BS. If fully subscribed, the public offering will close on Magh 13, 2079 BS. However, if it remains under-subscribed until that period, the deadline for application will extend until Magh 24, 2079 BS.

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Securities Board of Nepal (SEBON) granted the approval to the company on Mangsir 19, 2079 BS for the public issuance. The fund manager had submitted the application to the board on Bhadra 24, 2078 BS seeking permission to issue the units to the general public.

The close-ended scheme “Sunrise Focused Equity Fund” will operate under the fund “Sunrise Mutual Fund”. The fund is planning to issue 12 crores units at a par value of Rs. 10. Hence, the total issue amounts to Rs. 120 crores.

Out of the total public issue, 15 percent or 1.8 crore units of the fund will be purchased by Sunrise Bank, the promoter bank of the mutual fund. Hence, the general public can participate in the remaining 10.2 crore units.

After the allotment of the scheme, it will be listed and traded on the stock exchange.

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