10 crore units of SEOS listed for trading at Nepse
Sun, Sep 7, 2014 12:00 AM on Mutual Fund, Share Listed,
ShareSansar, September 7:
Altogether 10 crore units of Siddhartha Equity Oriented Scheme (SEOS) have been listed at Nepal Stock Exchange Limited (Nepse) today.
Back in June, Siddhartha Bank Limited has floated the five-year closed end at a value of Rs 10 per unit.
Out of the total 8 crore units of the scheme worth Rs 80 crore, 1.20 crore units were set aside for the issuer itself.
The remaining units were adjusted by the fund manager later on.
Siddhartha Capital’s Chief Executive Officer Dhurba Timilsina informed that SEOS will target 70 percent equity market, 25 percent bond market and only 5 percent liquidity management.
Explaining why did they opt for an equity oriented scheme this time unlike their first scheme, Siddhartha Investment Growth Scheme-I or SIGS-I, he said that equity -oriented scheme was brought initially since the capital market is no longer undervalued and equity market is also growing.
SEOS, the second mutual scheme by the Siddhartha Bank, has received [ICRANP] AMC Quality 3 (AMCs) rating, which is very good while the issue manager itself has received ICRANP BBB, which is not bad at all.
