IPO Note on Best Holdings Ltd (BESTHLDNG)
Best Holdings Limited (BESTHLDNG) is primarily involved in providing hospitality services. The company is also engaged in national infrastructure development, agricultural projects and rental service of commercial spaces. BESTHLDNG is the owner company of hotel Le Méridien, a 15 storied 5 Star Hotel with 304 guest rooms.
BESTHLDNG plans to allocate 63.2% (BDT 2,210.92 Mn) of the IPO proceeds for the construction of “The Muslin, A Luxury Collection”, a five-star resort in Bhaluka, Mymensingh. The estimated project cost is BDT 15,886.18 Mn, where 48.0% of the cost will be funded through equity and the remaining portion will be funded through bank loan. The company is planning to secure a 15-year long-term loan, including a moratorium period of 60 months to make principal and interest payments. The resort will have facilities of 221 rooms which will consist of various types of guest rooms & villas. The project is expected to be completed by December 2025, with an initial capacity utilization rate of 40.0%, projected to gradually increase to 65.0% over the subsequent five years. The company is expecting NPV of BDT 5.17 Mn and IRR of 13.72% (Cost of capital:13.0%) from this project, contingent upon the generation of the projected cash flows from the project.
EBL Securities Ltd. (EBLSL) is one of the fastest growing full-service institutional brokerage companies in Bangladesh. On top of our expertise and achievements, we take pride in our strong commitment towards excellent client services and development of the Bangladesh capital markets.
EBLSL is a fully owned subsidiary of Eastern Bank Limited (EBL), one of the leading private commercial banks of Bangladesh. EBLSL is one of the TOP-10 brokerage companies of Bangladesh.
We have unwavering faith in the potential of Bangladesh. We also believe that an efficient, vibrant and transparent capital market can strongly contribute to the overall development of Bangladesh. Bangladesh is currently at the initial stage of capital market growth, and we are committed to assist the entry of early movers into a growth-oriented, vibrant, nascent emerging market.
EBLSL has developed a disciplined approach towards providing capital market services. The foundation for our business is a strong commitment towards market experience & professionalism, investment knowledge, market intelligence and research services.
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