AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
(From FT Investor (Stories))
`The oldest profession in the world became the newest - and hottest - stock in Australia on Thursday, when shares in The Daily Planet, a Melbourne brothel, more than doubled in their first day of trading.
Although the company float raised only A$3.75m ($2.4m) - less than half the amount expected - as institutions stayed clear, enthusiasm among private investors took the shares from 50 cents to A$1.09 to give the business a market capitalisation of A$36.5m.
Andrew Harris, chief executive, aims to create a A$500m empire, with global franchises. Initially he hopes to expand into Perth, Brisbane and Sydney.
The launch was helped by the promotional efforts of Heidi Fleiss, the former Hollywood madam. ...