NIBL Capital Markets and Ace Capital completed their merger process and launched operation as a single unit last week with ‘NIBL Ace Capital’ as the name for the consolidated unit of the two investment banks. NIBL Capital Markets and Ace Capital had initiated the merger via a Memorandum of Understanding signed in November 2017.
According to a joint statement, the post-merger paid-up capital of the consolidated entity stands at Rs 270 million, which is the largest in Nepali capital market industry. "NIBL Ace Capital will avail combined depository participant (DP) services to more than 142,000 demat account-holders. It will also provide share registrar services to 38 companies and over one million shareholders,” reads the statement from the joint entity. At present, these services will be provided through four branch offices of NIBL Ace Capital, while there are expansion plans for three more branch offices.
