Kathmandu. Machhapuchhre Capital is going to issue units of the mutual fund MBL Equity Fund to the public from Falgun 22. The capital is going to sell 120 million units worth one billion 200 million rupees at a face value of 10 rupees per unit.
The fund is going to sell 14 percent of the 15 percent units, i.e. 16.8 million units, to the fund promoter company Machhapuchhre Bank and 1 percent, i.e. 1.2 million units, to the scheme manager, and the remaining 102 million units to the general public. Arrangements have been made to apply for a minimum of 100 to 12 million units in the fund.
Applications for the fund’s units can be made until Falgun 26. If all the units are not sold by that time, applications can be submitted until Chaitra 7th.
In the rating conducted for the issuance of the mutual fund, the credit rating agency CARE Rating Nepal has provided CARE NP Triple B Plus Issuer Rating to the fund promoter, while Infomerics Credit Rating Nepal Limited has provided IRN AMC Quality 3 rating to the scheme manager.
The fund’s securities issuance and sale manager is RBB Merchant Banking Limited. Investors in the fund’s units can apply from all ASBA member banks and financial institutions that have received approval from the Securities and Exchange Board of Nepal and their designated branch offices. In addition, they can also apply through the C-ASBA system using the software ‘Mero Share’ online developed by CDS and Clearing Limited.
