The company is issuing 120 million mutual fund units worth Rs 1.20 billion at a face value of Rs 10 per unit. NMB Hybrid Fund L2 is a close-ended mutual fund with a maturity period of 10 years.
Out of the total offered units, the company has allocated 15 percent, or 16.8 million units, to NMB Bank, the scheme's promoter. Similarly, it has allocated 1 percent, or 1.2 million units, to the fund manager. The remaining 102 million mutual fund units will be issued to the general public.
Interested investors can apply for a minimum of 100 and maximum of 12 million units of mutual fund till February 10. If the issue goes undersubscribed by the date, the deadline will be extended till February 20.
NMB Capital is the issue manager of the fund. The interested applicants can apply from all ASBA approved BFIs and Meroshare.
ICRA Nepal has assigned A- rating to the issuer indicating adequate safety.
