Unique Hotel IPO prospect gets nod

The Securities and Exchange Commission (SEC) has approved the Initial Public Offering (IPO) prospectus of Unique Hotel and Resorts to collect Tk 1.95 billion.

The commission took the decision at a meeting held Tuesday with its boss Professor M Khairul Hossain in the chair.

The company will offload 26 million ordinary shares of Tk 10 each at an offer price of Tk 75, including premium of Tk 65. Net asset value per share of the company is Tk 100.38 while earning per share (EPS) is Tk 5.18 as of financial statement of 2010. it also stated that the EPS per share of the company in 2011 is Tk 4.30.

The IPO proceeds will be used to build three new hotels, pay back bank loans and expenses for the IPO, SEC said.

Source: Daily Sun, February 15, 2012