News & Events

MoU with Butwal Power Company Limited

Butwal Power Company Limited (BPC) and Ace Development Bank Limited have (ACE) reached an agreement today to develop the 42 Megawatt Marshyangdi III hydropower project. Keton Hydropower Limited, a subsidiary company of BPC, will develop the project. The project is based on Tarkhughat VDC of Lamjung District. The MOU was signed by the CEO of BPC, Mr. Ranjan Lohar and the CEO of Ace, Mr. Siddhant Raj Pandey on behalf of their respective companies.

Ace will take charge of the entire financial management of the project and will play the lead role of Financial Advisor, Fund Manager, and Trustee. Ace will raise approximately USD 78 Million from the domestic and international financial markets with suitable financial instruments. Ace has designed partially convertible debenture with embodied option to raise the required capital. It is believed that the instrument will be lucrative for both domestic as well as international investors to invest in. It will also be the first of its kind in Nepal’s financial market.

Ace’s hydro power initiative focuses on the hydro sector and provides a one window entire financial management facility for the hydropower projects of any size. Ace will pool a team of qualified professionals including hydro technicians, bankers, capital market specialists and network with domestic as well as international investors including global Venture Capital firms. It is believed that the initiative taken by Ace will fulfill the huge capital requirement for the domestic hydro sector to some extent.

MD/CEO Mr. Siddhant Raj Pandey addressing the press conference.

 

Right Share Issue:

Ace Developoment Bank opened right share 10:3 to it's shareholder.

Allotment of NDEP IPO

Allotment ceremony of 12,80,000 ordinary shares of Nepal Development & Employment Promotion Bank Limited. Ace, as a Issue Manager, allotted the shares just in 67 days from the day of closure of issue.

Ace Development Bank Inaugurated

The Ace Development Bank was inaugurated on September 13, by Dr. Ram Sharan Mahat, Hon. Minister of Finance at Narayan Chaur, Kathmandu. Also present were Chairman Mr. Yogendra Sakya, CEO Mr. Siddhant Raj Pandey, the Governor and other distinguished guests of honor.

    "Lighting the Auspicious Flame"

    "A Bank is born"

    "The Chairman speaks"