The Wall Street Journal has an interesting story about Magnum, a Hong Kong nightclub that’ll be offering shares of its company on Thursday.
Here’s the thing. When a company goes public, there’s an IPO prospectus. When there’s an IPO prospectus, there are details about the company itself. And when that company is a night club, you have to explain clubbing to investors.
That just sounds straight-up weird. Some fun nuggets from the prospectus via the WSJ:
- “Clubbing is a popular night time activity which has evolved from the discotheques of the 1970s into a modern form of social gathering with lively music, elaborate lighting and a dance floor, supplemented by both alcoholic and non-alcoholic beverages.”
- “The aura and atmosphere of the modern clubbing scene is filled with images of people moving in unison to the beat of synthesized remixed dance and electronic music spun out by a DJ perched upon an elevated stage.
- “There has been a trend of ‘club-hopping’ developing in Hong Kong in recent years which means customers have the tendency to visit multiple clubs in one night…Customers may choose a Club based on their mood on a particular evening.”
- [Magnum makes money by selling drinks] “generally known as alcoholic beverage served by glass and prepared by bartenders mixing different alcohol and ingredients.”