Buddhist shrine IPO

Chinese Buddhist shrine tests investor faith with IPO

Putuo, a sacred Buddhist mountain resort in China, is seeking $118 million from a domestic IPO.
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Guan Yin, the goddess of mercy
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<div style="text-align: left;"> Guan Yin, the goddess of mercy </div>

Chinese policymakers have gone to great lengths to prioritise economic development, and the ingenuity of its entrepreneurs is undoubted. But the latest stock market debutante is unusual even for get-rich-quick China — a famed Buddhist resort known as Putuo Mountain is planning to raise Rmb750 million ($118 million).

¬ Haymarket Media Limited. All rights reserved.

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