Last day to apply for units of NIC Asia Equity Opportunity Fund
Applications for the units of NIC Asia Equity Opportunity Fund, managed by NIC Asia Capital, can be submitted until office hours today. Due to oversubscription, the unit issuance will close today.
Today is the last day to apply for the units of NIC Asia Equity Opportunity Fund, which is operated with NIC Asia Capital as the scheme manager. As the fund issued by the capital has received more applications than demanded, the application for units will close after office hours today.
Out of 80 million units at a price of Rs 10 per unit, a minimum of 120,000 units or at least 15 percent of the total units sold were reserved for the fund promoter NIC Asia Bank, and the remaining 68 million units were open for sale from Ashwin 7 to Ashwin 13.
According to the provisions in the approved prospectus, the size of the scheme can be increased from Rs 800 million to up to Rs 1 billion. This is the sixth closed-end scheme with a 10-year maturity period. The scheme manager has stated that most of the funds collected in the scheme will be invested in companies listed on the secondary market of securities.
The capital has stated that the funds collected in the scheme will be invested in companies that can provide good returns in the future and have good growth potential, after study and research.
Applications for purchase can be submitted for a minimum of 100 units and a maximum of 10 million units of the scheme. For the purchase of units, applications can be submitted through the branch offices of all banks and financial institutions participating in the C-ASBA service, which have obtained permission from the Securities Board of Nepal, and through the Mero Share software of CDSC.