Kumari Equity Fund’s unit on sale till Falgun 25

Kathmandu, March 9

The unit of Kumari Equity Fund will be on sale till Falgun 25.

The fund raised Rs. 10 face value of Rs. 80 million units equal to 800 million units have been opened for sale. Auction which has set a deadline of Falgun 28 after receiving applications as per the demand within the fast period, has informed that the sale will be open only till Falgun 25 as more applications have been received than the demand.

The fund, which will be managed by Kumari Capital, has secured 15 million units at a rate of 15 percent to Kumari Bank. And brought the remaining 68 million units to public issuance.

The collective investment fund scheme that the company is going to operate is a closed-end scheme. The unit sales manager is Kumari Capital. There is an arrangement to apply for the purchase of the unit from the sales manager along with all the banks and financial institutions participating in ASBA service.

Applications can also be submitted through My Share Software and My Share Mobile App. When applying, a minimum of 100 lots and a maximum of 8 million lots can be demanded.

After 10 years from the date of distribution of this unit for a period of 10 years, the assets of the scheme will be converted into cash and distributed to the unit holders in a proportional manner in accordance with the prevailing law.

The entire unit of the scheme will be listed in the secondary market and arrangements will be made to trade it, said Kumari capital’s fund manager.