NIBL Capital Market & Ace Capital signed MoU for merger

Thu, Nov 9, 2017 7:46 PM on Latest, Featured, Stock Market,
NIBL Capital Markets Limited and Ace Capital Limited has officially signed a Memorandum of Understanding (MoU) today (Kartik 23, 2074) for merger between two capital. Mr. Sachin Tibrewal, Chairman of NIBL Capital Markets Ltd and Mr. Rabin Sijapati, Chairman of Ace Capital Ltd, signed the Merger MoU in the premises of NIBL Capital Office, Lazimpat, Kathmandu, Nepal. On Ashwin 29 2074, parent company, Nepal Investment Bank Ltd, acquired Ace Development Bank Ltd., due to which ACE Capital Limited had to be merged with NIBL Capital Markets Ltd. as per SEBON’s regulatory requirement. This merger will increase the paid up capital of the merged entity to NPR 27 Crore which will be the highest paid up capital amongst its peers. nibl