Shares of Playboy Enterprises (NYSE: PLA) climbed nearly 9 percent on Tuesday, gaining 1-15/16 to 24-3/16 after the magazine publisher announced that it is planning an initial public offering for its online business. Playboy says that it expects to file a registration statement later this year and plans to complete the offering, subject to market conditions, in early 2000.
Playboy’s online businesses include its own Web site, and “Playboy Cyber Club,” a subscription-based service that offers online chats, events and access to Playboy’s pictorial and TV programming libraries. Playboy also operates the online Playboy Marketplace, which offers Playboy-branded products, as well as products from Amazon.com, Gourmetmarket.com and CNET. This looks like an IPO that could generate a lot of buzz.