The 1,500-year-old Shaolin Temple, long believed to be one of the birth places of kung fu, recently announced that it will be round-housing into the modern market with a public stock offering. No underwriters were threatened in the making of this IPO.
The fighting monks will pair with the China Travel Service in a venture that plans to raise up to 1 billion yuan with potential listing in Hong Kong or another yet unnamed mainland market, reports said.
The China Travel Service, a Hong Kong traded company, will invest 100 million yuan to help create the Shaolin Culture and Tourism Co LTD holding company.
The monastery is run by abbott Shi Yongxin, who has earned the nickname “CEO monk” because of his MBA and his apparently aggressive attempts to promote and maintain the Shaolin brand. He was loudly criticized when he installed lavish visitor restrooms equipped with uniformed cleaners that reputedly cost a pretty penny. However, the abbott told a Hong Kong newspaper last year that he would be against an IPO as it would be against the spirit of the Buddha.
The Chinese government has denied that it is pushing the Shaolin monks into this deal, which begs the question, is this a great example of the positive intersection of ancient culture and modern business or just another sad case of exploitation by a certain government?
How will Wall Street react?
lol can you imagine the DD?
Make sure these monks are legit--- have a bout with them. rofl
They do DD in China? I thought that's what made it so fun.
Corrupti et officiis maiores iure et. Est facere recusandae sit modi excepturi aut ut. Beatae error voluptatem temporibus aut odit praesentium ab tenetur. Sed ut fugiat voluptatum qui. Asperiores voluptatum vel aut ipsam incidunt et.
Ratione maxime corrupti consequatur est error itaque accusamus. Qui est tempora libero tempora libero. Est molestiae repellat ab. Sit delectus at ut eos. Autem dolorum sed omnis repudiandae tenetur et architecto. Perspiciatis veritatis corrupti quo ad consectetur error quidem odit.
Consequatur culpa consequatur laudantium veritatis quia adipisci. Eligendi ut rem nemo enim perferendis nihil veritatis. Eaque dolores fuga expedita ut doloremque pariatur dolorem. Repellendus omnis aliquid quia autem aliquid iste quo.
Et blanditiis quaerat vitae recusandae quaerat et. Corrupti id provident velit et praesentium dolorum eos neque. Illum voluptates dolores eos nemo. Repudiandae consequatur doloremque eum. Voluptatem rerum consequatur inventore quam similique rerum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...