NIC Asia Capital Limited, Subsidiary of NIC Asia Bank Ltd to float 10 crore unit share worth Rs1 Arab of mutual funds from Magh 2nd 2074. Capital is set to issue units namely, NIC Asia Growth Fund.
The offer will close on Magh 8, 2074 at the earliest. The maximum closing date for the offer is Magh 21, 2074. The face value of mutual fund is Rs 10.
This is 7 years closed end mutual fund. Out of 10 crore unit, capital has allocated 15% or 1.5 crore for NIC Asia Bank & capital itself. Remaining 8.5 crore unit will issued for general public at Rs.10.
Securities Board of Nepal (SEBON) had provided final approval to the public issue of NIC Asia Growth Fund on Poush 11, 2074.
Interested Investor can apply from all the ASBA registered BFIs from 75 districts across the country. Investor can apply minimum 100 units & maximum 20 lakh unit. If the fund is oversubscribed than size of fund will be increase by 25%.
Currently, there are 12 mutual fund schemes in the market. 10 Mutual funds are listed in Nepal stock Exchange. Such fund has been providing return higher than the interest of fixed deposit in the banks. Mutual has playing crucial role to broaden the size of market.
NIC Asia Capital Limited, a subsidiary of NIC Asia Bank Ltd. is providing merchant banking, issue management and fund management services.
