The company is issuing 160 million units of mutual funds worth Rs 1.60 billion at a face value of Rs 100. The scheme, to be operated under Nepal Life Mutual Fund, is a 10 yearly close ended mutual fund.
Out of total 160 million approved units, the company has secured minimum of 15 percent or 24 million units for scheme promoter Nepal Life Insurance and scheme manager Nepal Life Capital. The company secured 14 percent i.e. 22.4 million for Nepal Life Insurance and one percent i.e. 1.6 million units for Nepal Life Capital.
Interested investors can apply for a minimum of 100 and maximum of 16 million mutual fund units. The company will close the issue early on January 22 and lately on February 2.
The company has appointed Nepal Life Capital as issue manager. the interested investors can apply from all C-ASBA approved BFIs and Meroshare.
ICRA Ratings has assigned AA- rating to the issuer indicating adequate safety.
