Dhaka, Jan. 18 -- Sea Pearl Beach Resort and Spa has been flying high on the Dhaka Stock Exchange (DSE) as news has been circling around that it would get a big amount of interest waived by state-owned Investment Corporation of Bangladesh (ICB).

The stock started climbing up six months back, and by Tuesday it leapt 400 per cent to Tk 230 from just Tk 46 on July 17 last year.

The owning company, luxury hotel Royal Tulip in Cox's Bazar sought the waiver when tourists disappeared from the beach town at the onset of the Covid pandemic and so hotel business collapsed.

Sea Pearl Beach Resort, which began operation in 2015, was built with a bank loan. The owner then issued bonds worth Tk 3.25 billion offering 10 per cent interest rate so it c...