CBIL Capital floating public issue of Citizen Mutual Fund worth Rs 1 arba from today; offer ends on Magh 7

Citizen Mutual Fund-1 is floating its public issue of 10 crore unit shares worth Rs 1 arba from today (Magh 2, 2074). The offer will close on Magh 7, 2074 at the earliest. The maximum closing date for the offer is Magh 21, 2074. The mutual fund is issuing a total of 10 crore unit of ordinary shares worth Rs 1 arba at face value of Rs 10 per unit. Securities Board of Nepal (SEBON) had provided final nod to the public issue of Citizens Mutual Fund on Poush 18, 2074. Interested people must apply for a minimum of 100 units of share and they can apply for up to 20,00,000 unit of shares. Interested applicants can apply through ASBA-approved banks from all 77 districts across the country. Citizen Mutual Fund is CBIL Capital’s first mutual fund scheme, and is a 7-years closed-end fund. The scheme will be managed by CBIL Capital Limited with Citizens Bank International Limited (CZBIL) as the fund sponsor. Under the current regulation, 15% units i.e. 1.50 crore units are reserved for CZBIL and CBIL Capital. Remaining 8.50 crore units will be floated to the public. CBIL Capital is a 100% subsidiary of Citizens Bank licensed by SEBON to provide merchant banking, issue management and fund management services. CBIL Capital Limited is the fund manager and Citizens Bank is the fund sponsor of this scheme. Currently, there are 12 mutual fund schemes in the market, out of which 11 are also listed in Nepal Stock Exchange. Citizen Mutual Fund is the fourth mutual fund after NIC Asia Growth Fund, Siddhartha Equity Fund and Sanima Equity Fund to get approval for public issue in the ongoing FY 2074/75. Offer Letter Also See: Know why upcoming NIC Asia and Citizens Mutual Fund schemes are better than parking your money into Fixed Deposit accounts See the list of ASBA member BFIs