Kathmandu, May 25: NCM Merchant Banking Limited has started
its business from its new name Sunrise Capital Limited (SCL) from Wednesday.
SCL is a subsidiary company of Sunrise Bank Limited.
The bank had acquired the NIDC Capital Markets Limited
earlier this year and started its transactions with the nomenclature of NCM
Merchant Banking.
A special Annual General Assembly of the company on May 22
had amended the statute and bylaws of the company and gave approval for the
capital increment of the SCL and changed the name.
“After the special AGM’s approval, we have begun the
transaction from the new name with the permission from the Office of Company
Registrar,” read a statement issued by the company.
The SCL has Rs. 200 million issued capital and Rs. 100
million paid-up capital.
It said that it had been working as issue manager and share
registrar, and would work in the areas of portfolio management and mutual fund
in the future.
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