Dhaka, Bangladesh (BBN)- Unique Hotel and Resorts Limited, which owns The Westin Dhaka, will submit its IPO prospectus to the stock market regulator late this month for approval.
The five-star hotel plans to go public, using the book building method, to raise capital for business expansion.
Unique Hotel, the paid-up capital of which is BDT 2.30 billion, will float 30 million ordinary shares of BDT 10 each, said Khaled Farazi, chief executive officer of BRAC-EPL Investments Limited, the issue manager, according to The Daily Star, a local newspaper, reports.
He was presenting the company fundamentals at a road show organized for eligible institutional investors in the capital Dhaka on Wednesday.
Such road show is required by the book building regulations before price discovery through bidding by the institutional investors.
Farazi said earnings per share (EPS) for 2010 of the hotel has been forecast at BDT 4.80, which was BDT 3.20 at the end of 2009.
He said his company has fixed BDT 211 as the indicative price for each share.
At the road show, Managing Director of Unique Hotel Noor Ali, General Manager of The Westin Dhaka Atique Rahman and Vice Chairman of BRAC-EPL Saiful Islam also spoke.
BBN/SI/AD-02Sept10-12:12 pm (BST)
