The extension of the deadline for the mutual fund offer ‘LS Horizon 12’ that was initiated on May 13 by Laxmi Sunrise Capital has been made.
A total number of 120 million units will be issued with a face value of Rs 10 per unit through a mutual fund scheme that will continue for 12 years.
Out of the total, 18 million units are set aside for promoter Laxmi Sunrise Bank as seed capital and another 102 million units can be subscribed by the general public. The minimum number of shares that an investor can subscribe to is 100 units to a maximum of 12 million units.
The issue, which was originally slated at an earlier date, has been closed at May 27.
Laxmi Sunrise Capital Limited is serving as the issuer manager of LS Horizon 12. The applications will be accepted from all the banks and financial institutions having ASBA facility, along with Mero Share platform.
CARE Ratings Nepal has rated the promoter of the fund at CARE NP Triple B Plus and the scheme manager at CARE NP AMC Quality 3 Plus, which reflects average credit and management quality respectively.
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