KATHMANDU
NIBL Ace Capital Limited has successfully acquired Mega Capital Markets Limited. After the acquisition, the two entities have started joint operation under the new name “NIMB Ace Capital Limited” effective from Monday, 18th Ashadh, 2080. This decision regarding joint operation was made during separate Board of Directors meeting held on 2080/03/12 of both companies.
The strategic decision to acquire Mega Capital Markets Limited by NIBL Ace Capital Limited, was resolved by the special general meeting held on 2080-02-29 of both organizations. Additionally, NIBL Ace Capital has also assumed responsibility for all assets and liabilities of the acquired company. Following this acquisition, the capital base of the combined entity will amount to 695 million. This integration will benefit over 2.5 million shareholders through the management of more than 485 thousand beneficiary accounts, encompassing 7 branch offices and RTS of over 55 companies and total Assets Under Management (AUM) of the capital is above NPR 15 Billion.
NIMB Ace Capital ltd. also extends heartfelt gratitude to the Company Registrar’s Office, Securities Board of Nepal (SEBON), Nepal Stock Exchange Limited, CDS & Clearing Limited, Nepal Investment Mega Bank Limited and Mega Capital Markets Limited for their invaluable support in ensuring the successful completion of this integrated transaction. The capital also believes that there will be a significant impact on the merchant banking and investment banking business following this acquisition, leading to a qualitative improvement and expansion of services. Furthermore, the BOD of NIMB Ace capital is confident in establishing its distinct identity in the securities market industry and also believes that this acquisition would be a game changer in the history of Nepalese capital market.
The capital also informed all the stakeholders that the company registrar’s office has granted approval on 2080/03/11 to change the name of the former NIBL Ace Capital Limited to NIMB Ace Capital Limited.
