I think this will be a "hot" ipo, who wants a piece?>
(couldn't help the irony)
Brothel to Seduce Investors Into Float
Mon Jul 22, 9:53 AM ET
MELBOURNE (Reuters) - If sex sells, now's a good time to flog it to investors while they mourn the poor performance of most of their investments.
That's the thinking of Australia's largest brothel, the Daily Planet, which unveiled plans Monday to list its property arm in a bid to build the world's largest floated sex empire.
If the plan succeeds, the Melbourne-based Daily Planet says it would be the world's first listed bordello.
"Because the old saying that sex sells is so true, because the adult industry is so massively popular and profitable, we believe the opportunities are unlimited," said Andrew Harris, one of the Daily Planet's three directors.
Prostitution is legal in some parts of Australia, but with certain curbs on it.
Amid the doom of plunging equity markets, the directors were confident that stock in the gaudy property would arouse enthusiastic interest.
"It's a novelty raising that may just perk the market up," Harris told reporters.
For investors wondering how to value a bordello, Harris said they should consider it a stake in a very busy five-star hotel with revenue coming purely from room fees of A$120 an hour from each guest.
The Daily Planet has 18 themed rooms with names like Venus and Xanadu. Its Roman Room is decorated with marble columns and a giant spa. There is also a bar/lounge area with pool tables.
Some of the 18 rooms have beds, showers and heavily chlorinated spas large enough for several guests at a time.
"So when people are looking at the share offer, they should be looking at buying shares in a very successful, very long-established, five-star hotel which has a very high room turnover," Harris said. |
