Kathmandu, September 10

NMB Bank is floating public issue of 80 million units of NMB Hybrid Fund L-I worth Rs 800 million from tomorrow.

NMB Hybrid Fund L-I is a seven-year closed-end mutual fund scheme that will be managed by NMB Capital, a wholly owned subsidiary of NMB Bank.

The firm has set last day for the offer on September 25, with early closure date of September 16 in case of over-subscription. The investment band for the units, with face value of Rs 10 each, has been set at minimum of 100 and maximum of eight million.

Of the 80 million units, 12 million has been allocated for NMB Bank, 800,000 to NMB Capital Ltd and remaining 68 million for the general public.

NMB Bank had earlier floated its first mutual fund scheme — NMB Sulav Investment Fund-I (NMBSF-I), which is listed in Nepal Stock Exchange. The last traded price of NMBSF-I was Rs 16.26 per unit. The net asset value of NMBSF-I was Rs 19.95 per unit as of September 2.

Meanwhile, the 57th board of directors meeting of NMB Capital Ltd on Friday has decided to distribute 20 per cent cash dividend to the unit holders of NMBSF-I scheme under NMB Mutual Fund.

“We are planning to distribute the dividend to the unit holders of NMBSF-I before Dashain,” informed Shreejesh Ghimire, CEO of NMB Capital.