NIBL Ace Capital has successfully acquired Mega Capital Markets. After the acquisition, the two entities started joint operations under the new name ‘NIMB Ace Capital’.
This decision regarding joint operation was made during separate Board of Directors meetings of both companies on June 27.
The strategic decision to acquire Mega Capital Markets by NIBL Ace Capital was resolved by the special general meeting of both organisations held on June 12, 2023. 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 485,000 beneficiary accounts, encompassing seven branch offices and RTS of over 55 companies and total Assets Under Management (AUM) of the capital is above Rs 15 billion.
NIMB Ace Capital has also extended gratitude to the Company Registrar’s Office, Securities Board of Nepal (SEBON), Nepal Stock Exchange Limited, CDS & Clearing Limited, Nepal Investment Mega Bank and Mega Capital Markets 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 hopes to establish its distinct identity in the securities market industry and also believes that this acquisition will be a game changer in the history of the Nepali capital market.
The capital also informed all the stakeholders that the company registrar’s office granted approval on June 26 to change the name of the former NIBL Ace Capital to NIMB Ace Capital.
