18 Dec 2009

Shoalin temple to list on stock market

12:29 pm on 18 December 2009

The famed kung-fu fighting monks of an ancient Shoalin temple in China are planning to list on the stock market.

A government agency responsible for tourism at the 1500-year-old temple will be part of a joint venture to sell shares in Hong Kong or China.

The foray into modern finance could raise up to 1 billion yuan ($NZ206 million).

The BBC reports the temple and its monks and their distinctive form of kung fu have developed into a lucrative business.

The deal will involve a joint venture under the Shaolin name, which will handle services such as ticket sales.

It will also include the cable car, cinemas, hotels and tourist bus services in the province of Henan, where the temple is sited.