Merger MoU Signed between NIBL Capital Markets and Ace Capital

NIBL Capital Markets Limited and Ace Capital Limited have officially signed a Memorandum of Understanding for Merger. Sachin Tibrewal, Chairman of NIBL Capital Markets and Rabin Sijapati, Chairman of Ace Capital, signed the Merger MoU on the premises of NIBL Capital office. “On 29 Asadh 2074, our parent company, Nepal Investment Bank, acquired Ace Development Bank, due to which ACE Capital Limited had to be merged with NIBL Capital Markets as per SEBON’s regulatory requirement,” said Tibrewal. This merger will increase the paid up capital of the merged entity to Rs 27 crores which will be the highest paid up capital amongst its peers.