SEBON approves public issue of Citizen Mutual Fund-1 scheme worth Rs 1 arba

Securities Board of Nepal (SEBON) has approved the public issue of Citizen Mutual Fund - 1. The mutual fund scheme is coming out with 10 crore units shares worth Rs 1 arba at Rs 10 per unit to the general public. The company will be issuing public issue to the general public very soon but the liquidity crunch seen in the market may be reflected in such big public issue as general public may not show positive interest. CZBIL Capital Limited is the fund manager and Citizens Bank is the fund sponsor of this scheme. There are 11 mutual fund schemes already trading in NEPSE currently. Siddhartha and Samina Equity Fund recently floated its issue and is yet to be listed in Nepal Stock Exchange.