NIC Asia Equity Opportunity Fund oversubscribed in three working days
KATHMANDU: The public issue of NIC Asia Equity Opportunity Fund has been oversubscribed within three working days, with applications exceeding its initial scheme size of Rs 800 million.
Following the response from institutional and retail investors, the fund manager has indicated that the scheme size may be increased to Rs 1 billion.
As of 5:00 pm on Monday, applications worth more than Rs 800 million had been received. Under the provisions of the approved prospectus, the scheme size can be increased from Rs 800 million to Rs 1 billion. Applications will close after banking hours on Wednesday, September 30.
Managed by NIC Asia Capital, the 10-year closed-ended fund issued 80 million units at a face value of Rs 10 each. Of the total units, 12 million units, representing 15%, were reserved for the fund sponsor, NIC Asia Bank. The remaining 68 million units were offered to institutional and general investors from September 24, 2026.
The scheme is the sixth closed-ended fund managed by NIC Asia Capital. Most of the capital collected through the scheme will be invested in equities listed on the secondary securities market. Investment decisions will be based on detailed studies and research to select companies with strong growth potential and the capacity to generate favourable long-term returns.
Investors may apply for a minimum of 100 units and a maximum of 10 million units. Applications can be submitted through branches of banks and financial institutions providing C-ASBA services approved by the Securities Board of Nepal, or online through the Mero Share platform operated by CDS and Clearing Limited.
The issue is open to Nepali citizens, Non-Resident Nepali identity card holders, legally registered Nepali firms and companies, banks and financial institutions, insurance companies, and provident, welfare, trust and endowment funds.
