CBIL Capital Commences Issue of Citizen Mutual Fund worth Rs 1 Bn

Jan 16, 2018 Merolagani

Citizen Mutual Fund-1, promoted by Citizens Bank International under the management of CBIL Capital has started issuing Rs 1 billion worth of 100 million mutual fund units having a face value of Rs 10 from January 16-21. The mutual fund will expire in seven years.

The interested investors can apply for a minimum of 100 units and a maximum of 2 million mutual fund units through all ASBA registered BFIs.

CBIL Capital has secured 15 percent of the mutual fund units to Citizens Bank International. The remaining 85 million will be allocated to the general public.

Securities Board of Nepal (SEBON) approved the mutual fund on January 2.

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