Tag: Ace

  • NIMB Ace, Mount Everest Power: 2.58M shares (30%) for 12MW Dudhkunda Khola Project

    NIMB Ace, Mount Everest Power: 2.58M shares (30%) for 12MW Dudhkunda Khola Project


    NIMB Ace Capital Limited and Mount Everest Power Development Limited have entered into an agreement for the issuance of 2,580,000 ordinary shares. These shares will be made available to local residents in areas affected by the project and the general public, constituting 30 percent of the total issued capital. The signing ceremony included Mr. Arjun Prasad Poudel, the Chairman of Mount Everest Power Development Limited, and Sachindra Dhungana, the General Manager of NIMB Ace Capital Limited.

    The focus of Mount Everest Power Development Limited is on the ongoing construction of the Dudhkunda Khola Hydroelectricity Project, boasting a 12 Mega Watt capacity. This project utilizes water from the Dudhkunda River and is situated in the Solukhumbu district. Remarkably, more than 80 percent of the construction work for this hydroelectric project has already been completed.

    Under the terms of the agreement, NIMB Ace Capital Limited will provide Securities Issuance and Sales Manager services. This role involves overseeing all operations related to the public issue and management of ordinary shares for Mount Everest Power Development Limited. The collaboration aims to facilitate the allocation of shares to local residents and the broader public, contributing to the development and progress of the Dudhkunda Khola Hydroelectricity Project.

  • NIMB Ace Capital Extends ‘NIBL Stable Fund’ Deadline Due to Low Initial Applications

    NIMB Ace Capital Extends ‘NIBL Stable Fund’ Deadline Due to Low Initial Applications


    NIMB Ace Capital Limited has decided to extend the deadline for the “NIBL Stable Fund” mutual fund scheme to the general public and institutions until the 16th of Magh, 2080. Originally set to close on the 5th Magh, 2080, the extension was prompted by the scheme’s insufficient applications. Out of a total of 10 crore unit shares, 1% (10 lakh units worth Rs. 1 crore) has been allocated to the scheme manager NIMB Ace Capital Limited, 14% (1.4 crore units worth Rs. 14 crore) to the fund sponsor Nepal Investment Mega Bank Limited, and the remaining 8.5 crore units worth Rs. 85 crore are open for subscription from the general public. The “NIBL Stable Fund” operates as a closed-end fund, allowing applicants to apply for a minimum of 100 units and a maximum of 1,00,00,000 units.

    As per the information from the Central Depository System and Clearing Limited (CDSC), the scheme has received applications from 20,264 individuals, amounting to 2,38,16,750 units worth Rs. 23.81 Crore, as of 5 pm yesterday. Currently, “NIBL Mutual Fund” operates four closed-end schemes – “NIBL Pragati Fund,” “NIBL Samriddhi Fund-II,” “NIBL Growth Fund,” and “Mega Mutual Fund 1” – along with one open-ended Mutual Fund Scheme, “NIBL Sahabhagita Fund.” The first scheme under NIBL Mutual Fund, NIBL Samriddhi Fund-I, has successfully completed its operation after 7 years, distributing total cash dividends of 98.50% to unit-holders, equivalent to an approximately 18% effective rate per annum. Notably, NIBL Mutual Fund has introduced the first-ever open-ended mutual fund scheme in Nepal, “NIBL Sahabhagita Fund,” following the Mutual Fund Regulation 2067.

  • “NIMB Ace Capital Concludes Citizen Life Insurance IPO Allotment; Foreign Applicants Receive 10 to 50 Unit Shares”

    “NIMB Ace Capital Concludes Citizen Life Insurance IPO Allotment; Foreign Applicants Receive 10 to 50 Unit Shares”


     

    The life insurance company recently offered its regular shares to the public at a premium price of Rs 244 per share, starting from Asar 31 to Shrawan 14, 2080. According to a press release, the company distributed shares based on different categories of applicants. Around 7,885 applicants received shares based on their requested quantity within the range of 10 to 40 units. Additionally, 19,743 applicants who had applied for 50 to 2000 units were allotted 40-unit shares each. In a stroke of luck, 18,029 applicants from the latter group were selected through a lucky draw to receive an extra 10-unit shares.

  • “NIMB Ace Capital’s Mutual Funds NAV Report for Ashad; Dividends Expected for Two Schemes”

    “NIMB Ace Capital’s Mutual Funds NAV Report for Ashad; Dividends Expected for Two Schemes”


    NIBL Pragati Fund (NIBLPF), a 7-year closed-end mutual fund scheme, has reported an increase in its Net Asset Value (NAV) for the month of Ashad.

    The financial report reveals that the NAV of the mutual fund scheme has risen to Rs. 10.68 at the end of Ashad, 2080, compared to Rs. 10.28 in the previous month. The scheme began with a total fund of Rs. 75 crore and made investments of Rs. 49.40 crore in listed shares and Rs. 14.46 crore in public issues, right shares, and bonus shares. It also holds Rs. 15.35 crores in its bank balance.