NIBL Capital Markets Ltd and Ace Capital Ltd Sign Merger MOU

NIBL Capital Markets Ltd and Ace Capital Ltd Sign Merger MOU

Nov. 10, 2017, 1:34 p.m.

NIBL Capital Markets Limited and Ace Capital Limited have officially signed a Memorandum of Understanding (MoU) on 23rd Kartik, 2074 for Merger amidst a function SachinTibrewal, Chairman of NIBL Capital Markets Ltd and Rabin Sijapati, Chairman of Ace Capital Ltd in the premises of NIBL Capital Office, Lazimpat.

According to a press release issued by NIBL Capital Markets, as per our parent company Nepal Investment Bank Ltd acquired Ace Development Bank Ltd., due to which ACE Capital Limited had to be merged with NIBL Capital Markets Ltd and to fulfill SEBON’s regulatory requirement.

This merger will increase the paid up capital of the merged entity to NPR 27 Crore which will be the highest paid up capital amongst its peers. Two banks signed agreement on 29th Asadh, 2074.

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