NMB Hybrid Fund L-1 Initiates Auction of Shares and Debentures Post Maturity: A Lucrative Opportunity for Investors

Tue, Dec 5, 2023 10:45 AM on Latest, Auction, Mutual Fund,

NMB Hybrid Fund L-1, managed by NMB Capital Limited, reached its maturity on Kartik 08 following the Collective Investment Fund Regulations, 2067, and directives from the Securities Board of Nepal dated Kartik 03.

In compliance with sub-rule (3) of Rule 32 of the Collective Investment Fund Regulation, 2067, the fund is obligated to convert its property into cash within three months of maturity and distribute the proceeds among unit owners proportionally to their ownership.

To fulfill this requirement, the fund has undertaken the sale of most of its shares through the trading system of the Nepal Stock Exchange Limited. The sale includes shares, debentures, and collective investment fund units, including bonus shares. Additionally, shares with undetermined prices are currently being sold through an auction from 17th Mangsir which will be closing on 26th Mangsir, 2080.

Following instructions received, the fund invites interested parties, including individuals, firms, companies, and associations eligible to purchase the aforementioned shares and debentures.

Eligible entities are encouraged to submit secret sealed bid applications. All bids should be as per the specified conditions and guidelines outlined in the notice.