Kathmandu. The units of Citizens Sadabahadar Yojana, which operates under The Citizens Mutual Fund, are going to go on sale today. The Securities Board of Nepal had given permission to sell the units of this open-ended scheme on July 15.
Out of the total 50 million units at a face value of Rs 10 under the scheme, a minimum of 7.5 million units for seed capital or a minimum of 15 per cent of the total number of units sold have been reserved by the fund promoter Citizens Bank International. The general public can apply for the remaining 42.5 million units.
According to the scheme manager Citizen Capital, investors can apply for a minimum of 100 units and a maximum of 5 million units under the scheme. Applications can be made from the banks and financial institutions participating in the C-ASWA service approved by the Securities Board of Nepal and their designated branches and my share of CDSC.
The sale of units of this scheme will be closed at the earliest after the banking hours on June 15. In case there are not enough applications within this period, the unit will be open for sale till The Banking Time on July 15.
