Of the total 80 million units to be issued 1.25% or 1 million units will be allotted to Global IME Capital and 13.75% or 11 million units will be allotted to Global IME Bank Ltd.
The collected fund will be invested in securities registered at SEBON, publically issued securities, securities listed at NEPSE, bonds, bills and other monetary instruments issued by or under the supervision of NRB, bank deposits, money market instruments and other sectors identified by SEBON . The fund is not intended to be invested in foreign markets but future investments could be made abroad in compliance with regulations set by SEBON.
Fund Sponsor
Global Bank Limited (GBIME) was established in 2007 as an ‘A’ class commercial bank in Nepal which provides entire commercial banking services. The paid up capital of the bank is NPR 6.16 billion and listed as an 'A' category company in the Nepal Stock Exchange. The Bank has been providing wide range of banking services through 85 branches, 4 extension counters and 10 revenue collection centers, 90 ATMs spread throughout the Nation.
Fund Supervisors
Fund Manager
Global IME Capital Limited (GICL) (then Elite Capital Ltd.) was incorporated in May 2008 under the Nepalese Companies Act 2007 and licensed by the Securities Board of Nepal under the Securities Act, 2007 to undertake merchant banking activities (Issue Management and Registrar to Shares). The Company has commenced its operations from August 2008. This is the first specialized merchant banking company in the history of Nepalese Capital Market.
CEO’s Profile
Mr. Paras Mani Dhakal
Mr. Dhakal, a Member of ACCA (Association of Chartered Certified Accountants) and ISACA (The Information System Audit& Control Association), DipIFR Holder and Masters in Business Studies possess extensive level of experience in the field of auditing, finance, Operation & Treasury, and academic for around 14 years. He has worked as Sr. Audit Manager for five plus years in G& G Associates, Chartered Accountants.
He has also worked in treasury, operation and finance department as a member of management team in Prabhu Bank Ltd. (then Prabhu Finance Ltd.) and Jyoti Bikash Bank Ltd. for a period of almost five years. He is also acting as faculty of academic intuitions of Nepal to Bachelor and Masters level in management. He joined Global IME Capital Ltd. (then Elite Capital Ltd.) as General Manager.
Other members of the management team.
Financial Status of Global IME Capital Ltd.
When compared to FY 2071, the company’s operating income has declined by 42% while its operating expenses have increase by 17%. The company currently has an operating loss of Rs.3.97 million which is a decline of 177% compared to FY 2071. The company had an operating profit of Rs.5.16 million in the previous fiscal year.
Despite the apparent poor performance, the merchant banker has received an 'AMC Quality 3' rating from ICRA Nepal signifying adequate assurance on fund management qualities.
Scheme’s Projected Financial Performance
