Another Mutual Fund is in offing; Citizens Mutual Fund-2 to float 10 crore units to general public from Jestha 9

Wed, May 15, 2019 9:47 AM on Financial Analysis, Latest, Stock Market,
Another Mu...

Citizens Mutual Fund-2, managed by CBIL Capital Limited and sponsored by Citizens Bank International Limited is floating its public issue of 10 crore units mutual fund scheme worth Rs 1 arba from Jestha 9, 2076.

The early closing date of this mutual fund issue is on Jestha 13, 2076; if the issue got over subscription or else this issue can be extended up to Ashad 8, 2076.

The mutual fund will be issuing a total of 10 crore units worth Rs 1 arba at face value of Rs 10 per unit. Securities Board of Nepal (SEBON) had already provided final nod to the public issue.

Interested people must apply for a minimum of 100 units and they can apply for maximum 2 crore units. Interested applicants can apply through ASBA-approved banks from all 77 districts across the country.

Citizens Mutual Fund 2  is the CBIL Capital Limited second mutual fund scheme, and is a 7-years closed-end fund. Under the current mutual fund regulation, 15% units i.e. 1.50 crore units are reserved for fund manager and fund sponsor. Remaining 8.5 crore units will be floated to the general public.

CBIL Capital Limited is a subsidiary of Citizens Bank International Limited licensed by SEBON to provide merchant banking, issue management, corporate advisory and mutual fund services.

CBIL Capital Limited has already issued 1 mutual funds i.e. Citizens Mutual Fund 1 which is a 7 years close ended fund with issue size of Rs 82 crore and its Chaitra end NAV was Rs 10.78, whereas, last week NAV has increased to Rs 11.51.

Currently, there are 13 mutual fund schemes in the market and all are listed in Nepal Stock Exchange.

Click Here for Offer Letter of Citizens Mutual Fund 2

Alse see, List of Existing Mutual Funds and their latest NAV's