NIC Asia to issue 600,000 units debenture to general public

Kathmandu: NIC Asia Bank is going to issue 600,000 units ‘NIC Asia Debenture 2081/82’ worth Rs 600 million to the general public from December 28, 2017.

The offer will end on January 1, 2018 at the earliest. The maximum closing date has been set for January 11, 2018.

As per the offer letter published by the bank, it will be issuing 600,000 units of worth Rs 1,000 per unit to the general public out of 3,000,000 units of worth Rs 3 billion. Also, the remaining 2,400,000 units of Rs 2.40 billion will be issued to various institutions through private placement by the bank itself.

One must apply for a minimum of 25 units. The number of applied units should be a whole number, meaning applicants cannot apply for fraction shares. Interested applicants can apply thorough all ASBA approved banks.

Debenture holders will get 9 per cent interest per annum payable in every six months. As per the bank, the debenture units will be listed in Nepal Stock Exchange and are tradable.

Nabil Investment Banking Limited is the issue manager.