NIBL, Ace begin joint operation
Feb 11, 2018-NIBL Capital Markets and Ace Capital have wrapped up their merger process and are launching operation as a single unit beginning Sunday. The consolidated unit of the two investment banks will be called ‘NIBL Ace Capital’.
The post-merger paid-up capital of the consolidated entity stands at Rs270 million, which is the largest in the Nepali capital markets industry, according to a statement issued by the joint entity.
“The post-merger business scenario is promising and the synergy created through this collaboration will reflect positively on future business prospects and services of the company,” adds the statement.
"NIBL Ace Capital will cater combined depository participant (DP) services to more than 142,000 demat accountholders. It will also provide share registrar services to 38 companies and over 1 million shareholders,” adds the statement.
These services will be provided through four branch offices of NIBL Ace Capital.
The investment bank is planning to open 3 more branch offices.
NIBL Capital Markets and Ace Capital had initiated the merger process by signing a Memorandum of Under-standing in November 2017.
Published: 11-02-2018 11:59