News Briefs 18-09-2021

CAPM declares Unit Fund NAV

CAPM Company Limited has declared the Net Asset Value (NAV) of CAPM Unit Fund. The total NAV of CAPM Unit Fund stood at Tk 182,375,409.49 on the basis of cost price and Tk 208,090,574.05 on the basis of market price at the close of the operations on September 16, 2021. The NAV per unit at cost price and market price of the fund are Tk 112.49 and Tk 128.35 respectively against face value of Tk 100 per unit. Per unit subscription and surrender prices of the CAPM Unit Fund have been re-fixed at Tk 128.35 and Tk 127.95 respectively. The prices will remain valid from September 19 until announcement of the next NAV. — Statement

SoftBank's Vision Fund sells 57 million Coupang shares for $1.69b

TOKYO, Sept 17: SoftBank Group's Vision Fund sold 57 million shares in South Korean e-retailer Coupang Inc for about $1.69 billion, according to a US regulatory filing. Vision Fund sold 57 million Coupang shares at $29.685 each, and holds 568.2 million shares of the e-commerce firm following the sale, the filing showed bit.ly/3ClGkxi. Coupang declined to comment. In August, Vision Fund posted a first-quarter profit of 236 billion yen ($2.15 billion).— Reuters

Indian shares book fourth straight weekly gain

BENGALURU, Sept 17: Indian shares retreated from record highs on Friday but posted their fourth straight week of gains as a series of government support schemes boosted sentiment across sectors. The blue-chip NSE Nifty 50 index index ended down 0.3 per cent at 17,585.15, while the benchmark S&P BSE Sensex fell 0.2 per cent to 59,015.89. Both the indexes gained more than 1.2 per cent for the week, extending a run that has made them the best performing Asian equities so far this year thanks to an accommodative monetary policy and easing COVID-19 curbs. "There is also support from an expected postponement of the tapering of bond-buying as inflation remains under control ... liquidity continues to pour in," said KK Mittal, an investment advisor at Venus India. Banking stocks were among the top performers this week, rising 3 per cent. The gains came after the finance ministry on Thursday announced a 306.00 billion rupees ($4.16 bln) guarantee for securities to be issued by a newly incorporated "bad bank," the latest attempt to clean up the country's pile of bad loans. — Reuters